{"id":182876,"date":"2020-12-31T08:57:51","date_gmt":"2020-12-31T08:57:51","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=182876"},"modified":"2020-12-31T08:58:01","modified_gmt":"2020-12-31T08:58:01","slug":"egypt-says-food-reserves-are-enough-for-4-6-months","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/egypt-says-food-reserves-are-enough-for-4-6-months\/","title":{"rendered":"Egypt says food reserves are enough for 4-6 months"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Egypt released new data on food reserves in light of the COVID-19 pandemic. The country said it has amounts enough for 4-6 months.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ali Al-Moselhy, Minister of Supply and Internal Trade said reserves of sugar are sufficient for three months, oil for about four months, pasta for five months, and poultry for 13 months.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Raising efficiency<\/strong><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\">Al-Moselhy said his ministry is still working to boost municipal bakery system efficiency.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He said the per capita share of subsidized municipal bread rose by 29%, reaching 3.6 loaves per day this year, compared to 2.8 in 2019.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;The number of developed bakeries has reached 30,500, which handle the distribution of subsidized bread and produce from 250 &#8211; 270 million loaves per day&#8221;.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He said the government is carrying out a plan to make bakeries work on natural gas instead of diesel.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He indicated that his ministry aims to develop more than 5,000 bakeries during the first six months of 2021, at an estimated cost of 150 million Egyptian pounds ($9.5 million).<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Poultry<\/strong><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\">In the same context of boosting Egypt food reserves, Al-Moselhy said his ministry had succeeded in reducing frozen Poultry kilo prices in the state&#8217;s consumer complexes to 30 pounds ($1.9) instead of 37 pounds ($2.3).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He said the ministry intends to provide local production in consumer complexes after achieving self-sufficiency in poultry.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to Al- Moselhy, Egypt has not imported poultry for the past three months. The country used to need more than 20,000 tons in the past in the same period.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The ministry maintains a strategic reserve of frozen poultry of 15,000 tons, he said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In terms of rice, the country has three contracts to supply rice until September 2021. He expected to achieve sugar self-sufficiency in 2021, especially in light of production lines development for national sugar companies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The food basket represents 40% of the inflation factor, and the availability of goods limits its level.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Raising reserves&nbsp; &nbsp;<\/strong><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\">In a related context, the Assistant Minister of Supply and the spokesman for the ministry, Ahmed Kamal, said his ministry seeks to reach a powerful strategic stock of basic commodities during the next year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He said the current stock is sufficient for at least six months, stressing that this balance is the best Egypt has reached during the past ten years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He said the government intends to increase reserves to be sufficient for a period of up to eight months. The government aims to do this by expanding the construction of storage facilities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He referred to the development and modernization of about six wheat mills to raise production from 850 to 1970 tons.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In addition to raising the efficiency of about 21 state silos with a storage capacity of about 530,000 tons, and an investment cost of 60 million pounds ($3.8 million).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Related:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.bnreport.com\/egypt-raises-gas-production\/\">Egypt Raises Gas Production<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.bnreport.com\/unprecedented-rise-for-food-trade-sector-in-saudi-arabia\/\">Unprecedented Rise For Food Trade Sector In Saudi Arabia<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.hellenicshippingnews.com\/egypt-supply-minister-expects-wheat-prices-to-stabilise\/\">Egypt supply minister expects wheat prices to stabilise<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt released new data on food reserves in light of the COVID-19 pandemic. The country said it has amounts enough for 4-6 months. Ali Al-Moselhy, Minister of Supply and Internal Trade said reserves of sugar are sufficient for three months, oil for about four months, pasta for five months, and poultry for 13 months. Raising [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":182877,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[604],"tags":[160,278],"class_list":["post-182876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade","tag-egypt","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BNReport - Egypt says food reserves are enough for 4-6 months<\/title>\n<meta name=\"description\" content=\"Business News Report - Trade - Egypt released new data on food reserves. 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