Egypt seeks to buy more than 4mn tonnes of local wheat in 2018

CAIRO: Egypt, the world's largest wheat importer, intends to buy more than four million tonnes of locally-produced wheat this year, the supply ministry said on Thursday.

The procurement prices will be announced at the end of March, it said.

The government bought 3.6 million tonnes of local wheat last year after it pegged its purchase price to international wheat prices for the first time, eliminating a subsidy that had led to large amounts of wheat being smuggled from abroad.

The government has said it expects to buy about 7 million tonnes from abroad this year.

The wheat harvest runs from mid April to July.