Egypt’s Minister of Supply and Internal Trade Ali Al-Moselhy says the government is looking into gradually raising the price of subsidised bread at a time when the country’s strategic wheat reserve can only last for four months.
Egypt imports wheat from both Russia and Ukraine and the finance ministry says the agreement to purchase wheat from both warring countries is still in place, with the countries trying to fulfill the agreements with Egypt.
The Egyptian government aims to buy 5-5.5 million tonnes of local wheat, which will increase the reserve to last until November.
Al-Moselhy noted that Egypt’s oil reserves are enough for five months and it has almost achieved self-dependency in terms of sugar.
However, the Russo-Ukrainian war casts a long shadow over Egypt, where bread is a staple food.