Egypt buys 126,000 tons of wheat from Russia, Ukraine as conflict rages on

Egypt has bought about 126,000 tons of wheat from Russia and Ukraine amid the ongoing conflict between the two countries.

The shipments, comprising about 63,000 tons from each side, are expected to arrive at Egyptian ports in the coming days, the Ministry of Supply and Internal Trade said.

The country has also bought about 63,000 tons of wheat from Romania and recently received a further shipment of the grain from France, it added.

The announcement came after Egyptian President Abdel Fattah El-Sisi recently met with the government to approve new incentives encouraging local wheat growers to increase their output during the current season.

Following the meeting a presidential spokesman said the talks dealt with “a review of the executive position on a number of national projects in the food security and agriculture sector,” including efforts to increase productivity.

“In this context, the president directed to grant an additional supply incentive to the price of local wheat for the current agricultural season, in order to encourage farmers to supply the largest possible quantity,” the spokesman said.

Egypt’s Minister of Supply Ali Al-Moselhi said the government aimed to purchase more than 6 million tons of local wheat during the current harvest season, which begins in mid-April.

Egyptian Prime Minister Mostafa Madbouly said on Wednesday that the country’s strategic reserve of wheat was sufficient to last for four months and that the government would not have to resort to buying further shipments from overseas before the end of the year.

Egypt is the world’s largest importer of wheat and buys most of what it needs from Russia and Ukraine.

Zawya

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