Latest news with #SupplyandInternalTrade
Zawya
23-04-2025
- Business
- Zawya
Local wheat procurement price surpasses global rate: Egypt's Supply Minister
Egypt - Minister of Supply and Internal Trade Sherif Farouk announced that the 2025 local wheat procurement season has launched on a strong note, reflecting the state's ongoing commitment to supporting Egyptian farmers and bolstering national food security. Farouk emphasized that the government has set a highly competitive and fair procurement price—above the current global market rate—to ensure farmers receive a rewarding return on their harvest and are encouraged to deliver their crops to official collection points. 'All indicators so far are encouraging,' the Minister stated. 'We are confident in meeting our targeted quotas thanks to the comprehensive preparations and facilities made available for this season.' To support efficient procurement, the government has mobilized all relevant entities, including the Future of Egypt for Sustainable Development Authority, the Holding Company for Silos and Storage, affiliated milling companies under the Holding Company for Food Industries, and the Agricultural Bank of Egypt. These organizations are working in full coordination to ensure streamlined operations across all governorates. Farouk confirmed that more than 420 delivery and collection points have been prepared nationwide to ease the logistical burden on farmers and simplify the delivery process. Additionally, he assured that financial dues to suppliers will be disbursed within 48 hours of wheat delivery, underscoring the state's commitment to providing farmers with prompt support and financial stability. To monitor the season's progress, the Ministry has set up a central operations room operating around the clock, in addition to local operations rooms in all supply directorates to oversee implementation on the ground and respond swiftly to any emerging issues. 'This season is promising—not only for farmers but for Egypt's food security strategy,' Farouk said. 'We urge all farmers to seize this opportunity, deliver their harvests promptly, and benefit from the favorable pricing and support services provided by the state.' The Ministry's proactive measures aim to enhance the strategic stockpile and contribute to long-term national food security, while ensuring a fair and efficient wheat marketing system for local producers.
Daily News Egypt
23-04-2025
- Business
- Daily News Egypt
Local wheat procurement price surpasses global rate: Supply Minister
Minister of Supply and Internal Trade Sherif Farouk announced that the 2025 local wheat procurement season has launched on a strong note, reflecting the state's ongoing commitment to supporting Egyptian farmers and bolstering national food security. Farouk emphasized that the government has set a highly competitive and fair procurement price—above the current global market rate—to ensure farmers receive a rewarding return on their harvest and are encouraged to deliver their crops to official collection points. 'All indicators so far are encouraging,' the Minister stated. 'We are confident in meeting our targeted quotas thanks to the comprehensive preparations and facilities made available for this season.' To support efficient procurement, the government has mobilized all relevant entities, including the Future of Egypt for Sustainable Development Authority, the Holding Company for Silos and Storage, affiliated milling companies under the Holding Company for Food Industries, and the Agricultural Bank of Egypt. These organizations are working in full coordination to ensure streamlined operations across all governorates. Farouk confirmed that more than 420 delivery and collection points have been prepared nationwide to ease the logistical burden on farmers and simplify the delivery process. Additionally, he assured that financial dues to suppliers will be disbursed within 48 hours of wheat delivery, underscoring the state's commitment to providing farmers with prompt support and financial stability. To monitor the season's progress, the Ministry has set up a central operations room operating around the clock, in addition to local operations rooms in all supply directorates to oversee implementation on the ground and respond swiftly to any emerging issues. 'This season is promising—not only for farmers but for Egypt's food security strategy,' Farouk said. 'We urge all farmers to seize this opportunity, deliver their harvests promptly, and benefit from the favorable pricing and support services provided by the state.' The Ministry's proactive measures aim to enhance the strategic stockpile and contribute to long-term national food security, while ensuring a fair and efficient wheat marketing system for local producers.
See - Sada Elbalad
21-04-2025
- Business
- See - Sada Elbalad
Supply Min. Cuts Prices of Frozen Poultry, Eggs on Occasion of Sham El Nessim
Taarek Refaat Sherif Farouk, Minister of Supply and Internal Trade directed the Holding Company for Food Industries to cut the prices of some essential commodities that are in high demand during this period, including eggs, and frozen poultry. The price of a kilogram of frozen poultry will be reduced from EGP 135 to EGP 125, while the price of a tray of eggs (30 eggs) will be reduced from EGP 150 to EGP 120. These quantities will be available at all branches of the Holding Company for Food Industries' consumer complexes nationwide. This step comes within the framework of the Ministry's strategy to control markets and provide basic food commodities at high quality and reasonable prices, especially during holiday seasons and official occasions that witness increased consumption rates. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Arts & Culture Arwa Gouda Gets Married (Photos)
See - Sada Elbalad
14-04-2025
- Business
- See - Sada Elbalad
Minister of Supply Stresses the Need to Combat Commercial Fraud in Gold Markets
Waleed Farouk Dr. Sherif Farouk, Minister of Supply and Internal Trade, directed the need to combat commercial fraud, ensure gold manufacturers adhere to the official hallmark, and tighten oversight of the gold and precious metals markets. This is part of the effort to protect consumer rights, regulate markets, and establish the principles of transparency and quality. This came during a meeting between Dr. Sherif Farouk, Minister of Supply and Internal Trade, and Dr. Hamdi El-Hamahmy, Head of the Assay and Weights Authority, to follow up on oversight activities in the gold and precious metals market and emphasize the importance of adhering to the approved official hallmark. During the meeting, the Minister of Supply emphasized that the ministry attaches utmost importance to the issue of gold oversight, as it is a strategic commodity of high value. He emphasized the need to combat all forms of commercial fraud and control violations to preserve the rights of citizens and consumers, and to ensure they obtain products that meet specifications and are certified by the competent authorities. The Minister stressed the importance of developing the gold hallmarking system using the latest modern technological methods and techniques. This keeps pace with global developments in this field, enhances performance efficiency, and reduces human intervention during the inspection and documentation stages, ensuring the highest levels of accuracy and transparency. Dr. Sherif Farouk also directed the need to more accurately control markets and regulate gold trading within the local market, while strengthening oversight of buying and selling operations and ensuring that jewelry conforms to the official hallmark. This ensures the protection of the national economy and the preservation of citizens' savings. He pointed out that consumer protection is a strategic goal of the Ministry, and this falls within the framework of the state's vision to protect markets and bolster citizens' confidence in commercial transactions, especially in sectors that directly affect their savings, such as the gold sector. The Minister emphasized the need to continue modernization and development efforts at the Stamping and Weights Authority, including the use of modern technological means and facilitating services provided to merchants and citizens alike, ensuring quality performance and speed of completion. At the conclusion of the meeting, it was agreed to develop a joint action plan among regulatory bodies, including periodic and surprise raids on gold shops, updating databases, and expanding consumer awareness of the need to verify the official hallmark on gold jewelry before purchasing. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Arts & Culture Arwa Gouda Gets Married (Photos)
Zawya
14-04-2025
- Business
- Zawya
Egypt: Minister of Supply confirms no change in subsidized bread price after diesel price hike
Arab Finance: Minister of Supply and Internal Trade Sherif Farouk has confirmed that the price of subsidized bread, priced at EGP 0.20 per loaf on ration cards, will remain unchanged despite the recent increase in diesel prices, as per a statement. Farouk emphasized that the Ministry of Supply and Internal Trade takes into account all production costs, including the price of diesel, when considering the manufacturing of subsidized bread. On the other hand, there will be a 10% increase in the price of unsubsidized bread, the Spokesperson for the Bakeries Division of the Federation of Egyptian Chambers of Commerce Khaled Sabry, told Asharq Business. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
