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Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MIDDLE/EASTMEDITERRANEAN COMMENTS The Egyptian government has set its purchase price for local wheat, and the highest quality is fixed at $212-215/MT. While this is above the level of last year and reportedly based on an average of the international prices paid by Egypt in recent months, farmers are unhappy as they had hoped it would be about 15 percent more. They believe that their cost of production is higher than in countries that sell in international markets. Further, they think that Egyptian farmers should not have to suffer for subsidies paid by other governments for wheat exports. However, it seems unlikely that the Egyptian government, which has also said that it will buy at least 4 MMT of local wheat this year,...

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