Connect with us

Politics

Egypt PM, Madbouly announces wheat backup as Ukraine/Russia war stops flow

Published

on

Egypt’s Prime Minister, Mostafa Madbouly, has announced that the country will diversify its sources of wheat to avoid relying on what he described as “specific sources” for this product.

 

The minister added that the country would be using its strategic reserves until the end of 2022.

The announcement followed a ban on the export of wheat and other food staples announced by Ukraine.

 

Madbouly said the government is intensifying work to continue providing a strategic reserve of basic commodities, especially wheat.

 

“(We are) providing the financial funds required for the Ministry of Supply to quickly pay the dues of farmers who will supply the wheat crop during next April, while giving them the necessary incentives in this regard,” he added.

 

“The government …is closely monitoring current developments at the global level, and the turmoil it is witnessing due to the Russian-Ukrainian crisis and its repercussions … especially the shortage of a number of goods and the rise in prices worldwide.”

 

Last year, Russia accounted for 69.4 percent of Egypt’s wheat imports, while Ukraine accounted for 10.7 percent.

 

I assure all Egyptians that we won’t have any crisis at all or be compelled to buy from the international market until the end of this year. I am talking about the citizens’ basic needs concerning the bread loaf, we as the Egyptian state won’t be pressured at all to buy any shipments under the current price surges as we will have a stock that will cover our needs until the end of 2022″, said the Egyptian prime minister Mustafa Madbouly.

 

Egypt relies on Russia and Ukraine for the supply of wheat that is turned into bread, noodles and animal feed.

 

“It is true that Russia and Ukraine were our main source of wheat but we have already started to diversify our sources of wheat for imports in future deals, and that is already applied. We already buy (wheat) from various other countries. So we are always securing the diversity of our wheat sources so that they are not limited to specific countries”, promised the prime minister.

 

Sharp spikes in the cost of wheat could severely affect Egypt’s ability to keep bread prices at their current subsidised level.

 

Cabinet spokesman Nader Saad said Egypt is working on a plan to import wheat from other regions instead of Russia and Ukraine. Egypt has 14 countries approved to supply wheat, some of them outside Europe, he added.

 

“Egypt has a strategic stock of wheat approaching 5 million tons in silos or mills, and local wheat will join them starting from next April 15, to suffice the stock for a period of nine months,” Saad said.

 

Egypt is the largest importer of wheat in the world. The government expects wheat imports to decline from 5.5 million tons in 2021 to 5.3 million this year due to growth in domestic production.

 

 

 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Politics

Tanzanian president, Samia Hassan, positions to become party, CCM’s chairperson. Will she get it?

Published

on

Tanzania’s president, Samia Suluhu Hassan is in a firm position to grab the heart of her political party, Tanzania’s Chama cha Mapinduzi (CCM) as she appears the sole candidate for the party’s top position.

New party executives will be chosen at the ruling party’s general meeting.

President Samia Suluhu Hassan is the only candidate for the post of chairperson, while the post of the party’s vice chairperson for Tanzania mainland is reserved for Abdulrahman Kinana who currently holds the post.

According to the party’s publicity and ideology secretary, Mr. Shaka Hamdu Shaka, the meeting will also elect members of the CCM National Executive Committee (NEC), in which 2,703 names were approved to contest for 30 seats.

By party structure, the secretary-general is the party’s top executive who oversees its operations while the chairperson and vice chairperson hold office for five years, the appointment of the party executives is normally done depending on the performance of the respective post holders and fits the existing circumstances.

The development of political parties and their administration is a key factor in strengthening democratic reign all over the world, the control of ruling parties to a large extent usually influence governance and policy. It is hoped that President Samia Hassan’s vantage position in her party, CCM will count for the level of stability that would aid governance in the East African country.

Continue Reading

Politics

South Sudan’s ruling party endorses President Salva Kiir for next election

Published

on

The ruling party in South Sudan has endorsed President Salva Kiir as its candidate in the country’s delayed election scheduled for the end of 2024.

President Kiir while speaking at the end of the Sudan People’s Liberation Movement’s leadership session, accepted the ruling party endorsement for the 2024 election.

“We passed through a difficult situation, but we came out and stood together,” the president said to cheers. He added: “I have never failed you before; I believe that we will fight together whatever battles that are coming.”

South Sudan is in a dire situation with approximately two-thirds of the population, in danger of famine as they face acute food insecurity during the next lean season as climate shocks and conflict deepen the already vulnerable situation for many.

South Sudan is in a fragile state between war and peace. In February 2020, after a two-year process, the conflict parties of President Salva Kiir Mayardit and former First Vice President Riek Machar.

President Kiir has been the country’s only president since it gained independence from Sudan in 2011.

Continue Reading

EDITOR’S PICK

Politics17 hours ago

Tanzanian president, Samia Hassan, positions to become party, CCM’s chairperson. Will she get it?

Tanzania’s president, Samia Suluhu Hassan is in a firm position to grab the heart of her political party, Tanzania’s Chama...

VenturesNow17 hours ago

Nigeria’s apex bank, CBN, introduces new cash withdrawal policy but legislators aren’t impressed. Here’s why

The lower chambers of Nigeria’s legislative house, the House of Representatives have asked the Central Bank of Nigeria (CBN) to...

Musings From Abroad18 hours ago

Months after acquisition, Tata Group to spend $400 million to refurbish Air India

Following the acquisition of Air India by the conglomerate, Tata Group, the airline will spend more than $400 million to refurbish...

VenturesNow19 hours ago

South Africa’s coal exporter, Thungela Resources, expects doubled profit for 2022

One of South Africa’s main coal exporter, Thungela Resources (TGAJ.J) on Thursday revealed that it expects its full-year profit to...

Metro20 hours ago

Nigerian Army denies Reuters reports of forced ‘abortion programme’ for Boko Haram victims

The Nigerian Army has debunked a report by international media outfit, Reuters, which indicted the military authorities of forcefully terminating...

Culture21 hours ago

Restaurant owned by Nigerian named among top 200 in South Africa

A restaurant owned by a Nigerian entrepreneur, Ken Ayere, in South Africa, Hombaze African Cuisine, has been named in the...

Tech22 hours ago

Mastercard Foundation launches $200 million fund to support female-centric African SMEs

The Mastercard Foundation Africa Growth Fund (MFAGF), has announced the launching of a $200 million funding initiative for female-centric Small...

Sports22 hours ago

Cameroon keeper Onana throws more jabs after World Cup controversy

Cameroon’s first choice goalkeeper, André Onana, has thrown more jibes on the country’s football authorities following a controversy that rocked...

Musings From Abroad2 days ago

25 far-right group supporters arrested as Germany foils coup attempt

Germany on Wednesday foiled a violent overthrow of the state to install as national leader a prince who had sought backing from...

Politics2 days ago

South Sudan’s ruling party endorses President Salva Kiir for next election

The ruling party in South Sudan has endorsed President Salva Kiir as its candidate in the country’s delayed election scheduled...

Trending