Egypt's Housing Min. reviews joint water, wastewater projects    Egypt seeks Indian expertise to boost pharmaceutical industry    Egyptian pound shows stability vs. USD in early trade    Egypt's PM heads to Japan for TICAD 9 Africa development summit    National Council for Childhood reviews plan to combat child labour    Egypt's Supreme Organ Transplant Committee strengthens oversight, standards    Price cuts underway across Egypt, says trade federation report    African agribusiness market expected to reach $1tr by 2030    Israelis protest for hostage deal amid growing pressure on Netanyahu    Serbia's Vucic vows 'tough measures' against protesters after unrest    Zelenskyy seeks US security guarantees as Trump says he can 'end war now'    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt delivers over 30 million health services through public hospitals in H1 2025    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Govt to purchase Egyptian maize at higher price to cope with global hike
Published in Almasry Alyoum on 31 - 10 - 2010

The government intends to pay a higher price for maize purchased from local peasants in order to cope with rising international rates, an official source told Al-Masry Al-Youm.
The source said maize supply for the Ministry of Social Solidarity has been declining recently as merchants are used to buying from peasants at prices higher than those offered by the government. The same source said the government had set a price of LE240-LE250 per ardeb depending on the degree of purity, while traders offered farmers LE270 regardless.
Merchants then offer the maize as fodder for a price higher than purchase rate, according to the source.
Minister of Social Solidarity Aly Moselhy noted that the trader practice of buying maize to pedal in the market for a higher price does not qualify as a violation under anti-monopoly laws.
The grains chamber at the Federation of Egyptian Industries (FEI) predicted a further drop in maize supply to the General Authority for Supply Commodities (GASC) during the current season. The chamber's director, Ali Sharaf Eddin, told Al-Masry Al-Youm the expected supplies for this year will not surpass 10,000 tons, compared to 98,000 tons last year.
He attributed the predicted loss to crop damages incurred by rising temperatures as well as farmers' abstention from planting maize, given last year's local price drop as global rates hiked.
Translated from the Arabic Edition.


Clic here to read the story from its source.