Egypt considers importing wheat in Rupees, Yuan

Egypt is considering dealing in Indian Rupee and Chinese Yuan when importing wheat from India and China, Asharq Business reported on April 29th, citing Minister of Supply and Internal Trade Ali Moselhy.

In a press conference held at the ministry’s headquarters, Moselhy added that the North African country is currently negotiating with China and India, as well as commercial and central banks, regarding this matter, but they have not reached any official agreement yet.

The minister said that 365,000 tons of wheat have been purchased from farmers since the beginning of the current harvest season.

Moselhy also pointed out that Egypt aims to import about 5 million tons of wheat this year.

On April 12th, the Egyptian cabinet approved an additional incentive to supply wheat from farmers for the 2023 season, bringing the price of wheat to EGP 1,500 per ardeb of 23.5 carats.

Tags: China, Egypt, импорт, wheat, India, indian rupee, chinese yuan