Egypt's local wheat purchases thrown into question amid fraud allegations
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Egypt has launched a government-led recount of its wheat silos after an unusually high procurement figure spurred widespread fraud allegations from top industry officials, traders and parliamentarians.
Egypt said last week that in the latest procurement season it bought nearly 5 million tonnes of local wheat from its farmers, the second highest figure on record and well above the 3-3.5 million tonnes per year farmers had delivered in the past decade.
Wheat millers and traders told Reuters the high figure was a result of private suppliers misreporting their stocks to collect government payments for highly subsidised local wheat not actually in their silos.
