Egypt to buy wheat from local farmers at average global price

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Cairo – Egypt will start buying wheat from local farmers at the average global price starting next season, the cabinet said in a statement on Thursday.

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The government will also begin directly subsidising wheat farmers by granting each of them 1,300 Egyptian pounds (161.89 dollars) per feddan, the statement said.

Egypt will continue to subsidise sugar farmers at 400 Egyptian pounds per tonne. ($1 = 8.0300 Egyptian pounds) (Reuters/NAN)

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