Egypt, the world’s largest wheat importer, has started to search for alternative suppliers to Russia and Ukraine to mitigate a possible shortage triggered by the ongoing conflict in the European country.
According to the United Nations, Russia and Ukraine delivered 86 percent of Egypt’s wheat imports in 2020.
Mustafa Madbouly, the Egyptian prime minister, announced on March 9 that the country is trying to diversify its sources of wheat to avoid relying on what he described as “specific sources” for this product.
The government is raising its target for purchases of local wheat to as much as 5.5 million tons. However, the prime minister urged the general public to rationalize wheat consumption.
He is also working with ministers to review progress on keeping food stores stocked and affordable.
In a statement, Madbouly noted that he will not allow “some greedy traders to store and hide goods.”
He also noted that the tensions in Ukraine have pushed wheat and flour prices 19 percent higher and vegetable oil costs up by 10 percent.
Ukraine and Russia are also the world's top suppliers of sunflower oil.
