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FINANCIAL NEWS
Algeria to reduce wheat imports until 2014
12 Feb 2008
(MENAFN) Algerian Agriculture Minister Rachid Benaissa said that the North African country is planning to cut its wheat imports by at least two-thirds until 2014 and aims to boost domestic output to fill the gap, Reuters reported.
He said that Algeria, a major wheat importer, has imported a total of 1.27 million tons of wheat from France in the five months to December 1.
It had also cut its grain import bill by about 41 percent in the first nine months of 2009 than in the same period in 2008. The import bill for those products in the first nine months fell to $1.912 billion from $3.235 billion last year.
Benaissa said Algeria aims to become self-sufficient in wheat by offering incentives to local farmers.
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