Egypt signs one of the largest agreements to import 3.12 million tons of wheat
Egypt has successfully concluded one of the largest direct wheat import deals, with a total quantity of 3.12 million tons, which will be shipped gradually.
The monthly shipments are scheduled to start from November until April, the date of the new wheat harvest in Egypt.
The wheat will be shipped to the General Authority for Supply Commodities at a rate of 510,000 tons per month from sources in the Black Sea region, bringing the total to 3.12 million tons.
Egypt seeks to increase its strategic wheat stockpile as a result of the current geopolitical conditions that greatly affect the markets, as the country needs 7.7 million tons of wheat in 2024 to ensure the provision of 93.5 billion loaves of bread during the year.
In 2023, Egypt’s wheat imports amounted to about 10 million tons, a large percentage of which, estimated at about 68%, came from Russia.
It’s worth noting that Egypt’s wheat consumption amounts to about 20 million tons annually, which reflects the increasing demand in conjunction with population growth, according to previous data from the Egyptian Ministry of Supply and Internal Trade.
