https://arab.news/pex4x
RIYADH: Egypt will launch a new tender to import wheat next week as it prepares for possible grain market disturbance in the light of rising tensions between Ukraine and Russia.
Egypt, as the world’s largest wheat importer, imported around 13 million tons in 2020, at a value of $3.2 billion, according to the Central Agency for Public Mobilization and Statistics.
The threat of war between both countries poses a risk on international grain markets, as both nations account for almost a third of wheat and barley exports and a fifth of corn trade.
Ali Moselhi, Egypt’s minister of supply and internal trade, revealed the move to Asharq.
Despite the new measure, Egypt still expects the volume of wheat imports to decrease to 5.3 million tons in 2022, down from 5.5 million tons in 2021.
This will be supported by an increase in local production, Ali Moselhi added.