Egyptian importers delay wheat purchases amid falling prices

Egyptian wheat importers are holding back from signing new contracts as they anticipate further declines in global grain prices. As of November 2, 2026, the price of milling wheat with 12.5% protein on a CIF East Med basis Egypt, according to Platts, had fallen by $12/t week over week to $306/t. Buyers reported sufficient grain stocks and showed little urgency to make new purchases amid intensifying competition among exporters.

A further factor weighing on import demand has been the weakening of the Egyptian pound to a record low of 56 EGP/$1. The depreciation of the national currency increases importers’ costs in local currency despite falling dollar-denominated wheat prices. Market participants expect prices could decline further, prompting some buyers to postpone new deals until the market stabilizes.

Wheat prices have also declined in Egypt’s domestic market. The price of Russian wheat with 12.5% protein on an ex-warehouse basis fell by EGP 500/t to EGP 18,000/t. One contributing factor was the government’s supply of wheat to private flour mills at a subsidized price of EGP 16,650/t. This has intensified competition in the domestic market and limited importers’ ability to sell grain purchased at higher prices.

Meanwhile, wheat arrivals for Egypt’s state buyer are expected to resume in November following recent purchases of five French and two Romanian cargoes. During July–October, all wheat import arrivals in the country were handled by private buyers. Egypt’s total wheat imports since the beginning of 2026 have reached 9.2 mln tons, just 600 thsd tons below the corresponding period last year.

Amid Black Sea logistics disruptions, Ukrainian exporters continue to supply wheat to Egypt mainly through alternative routes, including Danube ports. In the coaster market, bids for Ukrainian wheat with 11.5% protein on a CIF Egypt basis for November loading stood at $305/t.

Tags: wheat, imports, Egypt