Wheat’s Biggest Buyer Builds Stockpile to Battle Virus
- Largest wheat buyer boosts local purchases as harvest starts
- Shift comes as Russia and other producers curb grain exports
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The world’s biggest wheat buyer is boosting purchases from local growers in a push to stockpile grain as the coronavirus puts international supplies at risk.
Egypt bought 2.1 million tons of local wheat since the harvesting season began in mid-April, according to the supply ministry. That’s at least 30% more than the amount it bought in the same period last year. The government is also offering farmers higher prices.