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(Ecofin Agency) – Building up strategic food reserves is an effective way of managing periods of shortage and improving the availability of commodities on the market. A growing number of African countries are adopting that strategy to improve food security.
On Saturday, June 10, Egyptian Minister of Supply and Internal Trade, Ali Moselhy, launched the construction of a food warehouse on a 4-hectare site in the Suez governorate. According to local media outlet DailyNewsEgypt, the infrastructure will cost EGP1.5 billion ($49 million) and completion is expected in 18 to 24 months. Once operational, the warehouse will store and preserve in appropriate conditions over 25 food products, including staple foods.
The initiative is part of the first phase of the national program to build strategic food warehouses, announced by the Executive in September 2022.
The over EGP4 billion ($129 million) initiative also includes the construction of three additional warehouses in the governorates of Sharquia, Fayoum, and Luxor.
According to Mr. Moselhy, the main aim of the program is to double food reserves in the targeted governorates over time and further reduce food losses, which amounts to more than nine million tons yearly in the country, according to 2021 data from the United Nations Environment Programme (UNEP)
Stéphanas Assocle
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