Govt: Wheat reserve enough for 81 days

Egyptian wheat reserves amount to 2 million tons, an amount that can meet demand for 81 days, according to a statement by the government on Wednesday.

The statement said that other contracts signed by the government secured another extra 180,000 tons.

On 27 March, Egypt, the world's largest wheat importer, put the reserve at 2.1 million tons, covering demand for 85 days.

Agriculture Minister Salah Mohamed Abdel Momen said Tuesday that the Government intends to slash wheat imports for 2013 by 10 percent, and relying on local production to cover the difference.

Egypt imports nearly 10 million tons of wheat annually, which accounts for about half of its needs.

The imports are distributed to the state's General Authority for Supply Commodities as well as private importers.

Two years of political stability and a prolonged economic slump has diminished foreign currency reserves, raising doubts around Egypt's ability to secure its needs through open tenders.

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