date:Jun 27, 2014
Leading global wheat buyer Egypt could remove the premium price the government pays to local farmers for their grain in a bid to claw back millions of dollars lost annually on fraudulent sales of cheap foreign wheat - passed off as local crop.
Egypt pays domestic farmers over $100 per ton above the world market price for their wheat to encourage sales to the state, but this has also enabled profiteers, with proceeds split between importers, farmers and others along the supply chain.
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