Stock Trading News – Algeria halts wheat imports on high stocks-minister – Reuters South Africa
ALGIERS (Reuters) – Algeria, one of the main state grain importers in North Africa, does not need more wheat import for what remains of the 2007/08 commercial period because it has “considerable stocks” and is expecting better harvest, its agriculture minister said on Friday. It would return to imports only for the need to diversify grain seeds,” Said Barakat was quoted by the Algerian official news agency APS as telling parliament during a debate on farming. He gave no figures on the levels of wheat stocks or the expected cereals crop but he said the government would offer higher prices for wheat farmers for the upcoming season to buy domestic wheat. Algeria increased its subsidies and incentives, including soft loans, to farmers to boost domestic wheat crop. read more
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