State to continue subsidizing bread, Supply Minister says prices to remain fixed

The state will continue to subsidize bread in 2017, the price of which will remain unchanged at EGP 0.05 a loaf despite the additional costs of production (currently at EGP 0.5 per loaf), Supply Minister Ali El Sheikh confirmed. According to Al Borsa, El Sheikh also said that Egypt’s wheat reserves are enough to cover its needs for the coming five months and that new agreements are in the making to import an additional 900k tonnes.