The world’s biggest wheat buyer is boosting purchases from local growers in a push to stockpile grain as the coronavirus puts international supplies at risk, reports Yahoo Finance.
Egypt bought 2.1 million tons of local wheat since the harvesting season began in mid-April, according to the supply ministry. That’s at least 30% more than the amount it bought in the same period last year. The government is also offering farmers higher prices.
The country’s purchases from overseas provide a reliable benchmark for the international grains market -- of some 20 million tons of wheat that Egypt consumes annually, it imports about 12 million.
