Daily Management Review

Egypt agrees to buy wheat from India


The country’s Minister of Supply and Internal Trade, Aly al-Moselhy stated at a press conference on Sunday that "an agreement has been reached with India for the supply of 180,000 tons of wheat."

Marco Verch
Marco Verch
He said that this shipment will soon reach Egypt.

"Egypt now has very good strategic reserves for ensuring its food security. For five to six months, there is adequate wheat in storage," said the minister.

India was authorized as the place of origin for wheat imports by Egypt's Ministry of Agriculture and Land Reclamation in late April.

Following the global price increases brought on by the Ukrainian crisis, Egypt's food prices started to rise in March. As a result, the Egyptian cabinet issued a decree controlling prices for both subsidized and unsubsidized bread. Additionally, all forms of edible oils, wheat, corn, beans, flour, and a number of other products were prohibited from export for three months by the nation's government.

source: reuters.com