The Egyptian General Authority for Supply Commodities, a subsidiary of the Ministry of Supply and Internal Trade, has signed contracts to purchase 420,000 tons of Russian and Ukrainian wheat, as reported by “Al-Dostour” newspaper.
The contracts were awarded as part of an international tender, and the wheat is scheduled to be shipped to Egypt from February 29th to March 11th.
Egyptian President Abdel Fattah el-Sisi announced on August 19th of last year that the country would continue to need to import wheat from abroad due to the sharply increasing domestic consumption, despite the efforts made by the Egyptian government to expand agricultural land.
It is worth noting that Ibrahim Ashmawi, the President of the Egyptian Commodity Exchange, previously stated in July that Egypt is the largest wheat importer, with approximately 80% of its wheat imports coming from Russia.
He highlighted that Egypt can negotiate equitable deals with special conditions and competitive advantages.
Additionally, Naamani Nasr Naamani, Advisor to the Egyptian Minister of Supply for Supply Commodities, mentioned on July 16th that Egypt aims to enhance its wheat stockpiles through diversifying import sources while also relying on domestic production as part of its policy.
The purchase of wheat from Russia and Ukraine reflects Egypt’s ongoing efforts to ensure a stable food supply for its growing population.
