Gold Prices Today Egypt January 22, 2026
- The gold market opened today with a noticeable decline, after prices fell by about 55 pounds in evening transactions yesterday, following the recording of new record levels earlier...
- Egypt reduced the price it pays for imported wheat by approximately 87 Egyptian pounds per ardeb (around 150 kilograms) in its latest tender, according to Youm7.
- Egypt is one of the world's largest wheat importers, relying heavily on imports to meet domestic demand.
The gold market opened today with a noticeable decline, after prices fell by about 55 pounds in evening transactions yesterday, following the recording of new record levels earlier in the session.
Egypt’s wheat Imports and Price Adjustments
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Egypt reduced the price it pays for imported wheat by approximately 87 Egyptian pounds per ardeb (around 150 kilograms) in its latest tender, according to Youm7. This adjustment brings the price to 4,900 Egyptian pounds per ardeb.
Background on Egypt’s Wheat Procurement
Egypt is one of the world’s largest wheat importers, relying heavily on imports to meet domestic demand. The General Authority for Supply Commodities (GASC) is the primary agency responsible for procuring wheat on behalf of the egyptian government. The USDA Foreign Agricultural Service provides detailed reports on Egypt’s grain import policies and market conditions.
Recent Price Changes and Impact
The recent price reduction reflects changes in global wheat market conditions. Egypt’s decision to lower the price it pays for wheat aims to reduce the financial burden on the country’s food subsidy program. The price is now 4,900 Egyptian pounds per ardeb, a decrease from the previous price of approximately 5,088 Egyptian pounds, as reported by Youm7.
Egypt’s Food Subsidy Program
Egypt operates a large food subsidy program that provides subsidized bread and other essential food items to a notable portion of the population. The program is crucial for ensuring food security, but it also represents a substantial cost to the government. The World Food Programme provides information on food security and assistance programs in Egypt.
the reduction in wheat import prices is expected to help alleviate some of the financial pressure on the subsidy program, allowing the government to potentially allocate resources to other areas.