São Paulo – Egypt expanded its grain silo storage capacity by 5.9% in 2019, Egyptian newspaper Al Ahram reported based on a cabinet statement. Capacity went from 3.4 million tonnes to 3.6 million tonnes at the end of 2019.
The Arab country storage capacity went up by 200,000. The Egyptian government plans to further expand its available silo capacity. “The government aims to open five more silos, which are ready now,” the statement reads.
Last year, the government took several measures to increase its capacity. In September, a loan agreement was signed with Italy to establish 10 vertical silos. The deal was worth EGP 360 million (USD 22.7 million) and was also aimed at implementing a technology system in the wheat management sector.
Egypt’s govern also signed a USD 14 million agreement with the Organization of the Petroleum Exporting Countries (OPEC) Fund for International to establish two wheat silos in the western Port Said. On the occasion, Egypt’s prime minister Mostafa Madbouly said that this agreement comes as part of Egypt’s plan to achieve food security and ensure that the necessities of citizens are met.
Al Ahram published last Sunday (26) that Egypt has allocated EGP 28.17 billion (USD 1.78 billion) for urgent commodity and service needs for a period of six months. Most of the money has been earmarked for the General Authority for Supply Commodities (GASC), the state’s grain buyer.
Egypt is a major destination of agricultural products from Brazil, including grains like corn. Last year, the country imported USD 1.8 billion from Brazil, and the most purchased product was corn, at USD 552 million. Then came beef, ore, sugar and poultry.
Translated by Guilherme Miranda
