Egypt News

President Hosni Mubarak had issued earlier instructions to the ministries of agriculture, trade and social solidarity to determine crop prices in advance of the new agricultural season with the stated aim of ensuring healthy profit margins for farmers and to encourage them to grow certain strategic crops. Mubarak further instructed the ministries to raise local crop prices in the event of a dramatic jump in global prices.

According to official sources, wheat prices are expected to be set at between LE240 and LE270 per ardeb (equivalent to 5.62 US bushels); yellow corn at LE200 per ardeb; sugar cane at between LE225 and LE250 per ton; Delta cotton at LE650 per kantar (roughly equivalent to one hundredweight); LE700 per kantar for Giza 88 cotton; and LE650 per kantar for Giza 86 cotton.

The same sources say that the Ministry of Social Solidarity has already promised to buy 500,000 tons of domestically-produced white corn at LE200 per ardeb.

They add that the senior Mubarak has also instructed the relevant authorities to take steps aimed at protecting farmers in light of the future development of the agricultural sector.

EGYPT NEWS

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