Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s Ministry of Supply has increased its selling price of wheat, both local and imported, by about 20 percent. At the same time, the price of government wheat flour has increased by 35 percent. These price increases will not affect the subsidized local bread price. The Ministry also said that these are the first increases in 30 years. Local subsidized bread is supplied at 16 percent of the actual cost of production. SOUTHERN/EASTERN/WESTERN AFRICA
Flour Mills of Nigeria has shown an increase of 67 percent in income for the Q1 of 2024 with operating profit up by just over 100 percent. Much of the increase was due to “enhanced capacit...
What You Need to Know Today: Crude oil prices dropped sharply with traffic flowing through the Strait of Hormuz. There were reports that Iran was behind an attack on a cargo ship near the coast of Oman, which would be a violation of the memorandum of understanding between the U.S. and Iran. Pr...
On Wednesday, the White House submitted a national security supplemental spending request for $87.6 billion. The majority of the request includes funding for the conflict in the Middle East, but there are agricultural provisions as well. The supplemental funding package includes more than $11 b...
