ABE completes preparations ahead of wheat harvest season

The Agricultural Bank of Egypt (ABE) has completed its preparations ahead of the 2022 local wheat harvest season, as the area, storage units, and collection points of the bank — which are spread throughout the republic — continue to receive local wheat from suppliers in implementation of the state’s directives to prepare all means for the success of the season.

The bank is also facilitating supply operations from farmers and receiving all wheat supplied from them provided that it conforms to the specifications and terms of supply.

Chairperson of the ABE Alaa Farouk confirmed that the bank has completed all its preparations to ensure the success of this wheat harvest season by establishing an integrated system to receive wheat.

He pointed out that this comes within the framework of the ABE’s endeavour to increase the import rates of local wheat to support the state’s efforts to receive and preserve strategic wheat crops in accordance with the specifications set by the Ministry of Supply and Internal Trade.

Farouk explained that the ABE is one of the most important marketing outlets that receive local wheat from farmers and suppliers on behalf of the General Authority for Supply Commodities, given that it has the largest storage areas for receiving and storing wheat spread throughout the republic, stressing that the bank has increased the number of storage sites this year to reach 196 sites with storage areas of about 806,000 sqm expected to receive about 850,000 tonnes of wheat this season.