Egypt’s state agency Mostakbal Misr received the first shipment of imported wheat

Egypt’s state agency Mostakbal Misr for Sustainable Development received its first shipment of imported wheat on December 30, according to port data seen by Reuters.

The 28,000 tons of wheat arrived at the port of Alexandria aboard the Mikhail Nenashev vessel. Further details, including the seller and price, were not disclosed.

This is the first shipment received by the Mostakbal Misr agency, Reuters reported. Mostakbal Misr took over Egypt’s food imports in December, replacing Egypt’s state agency GASC, which had been the main state food buyer for decades.

On Dec. 27, Mostakbal Misr said it had contracted enough wheat to meet the country’s needs through the end of June – 1.267 million tons. Most of that volume is of Russian origin.

The agency was unable to purchase wheat and vegetable oil in November due to procedural uncertainties.

Sources said that shipments of contracted wheat have started arriving at Egyptian ports and that further shipments are scheduled for the coming months.

However, the lack of details on timing, prices, and whether shipments are proceeding under new deals has led some traders to question volumes.

Tags: Egypt, wheat