Egypt: Decline in Ukraine Wheat Imports Drives Egypt to Diversify its Suppliers
After more than 100 days of the Russian-Ukrainian war, wheat prices have surged almost 60 percent globally, hitting their highest levels in 14 years. Egypt, similar to the rest of the world, has been affected by the impacts of this war, especially since 82 percent of its wheat imports over the last five years originated in Russia and Ukraine. Over the past three months, Egypt has been able to secure a stable wheat supply from diverse markets for its bread subsidy program via international tenders. As of June 18, 2022 the government of Egypt has thus far procured 4.1 MMT of wheat from a projected target of 5-6 MMT this season. No wheat, flour, or bread shortages have been observed in bakeries, local markets, or at commercial retail stores. Exploring new markets to purchase wheat represented a viable option for both public and private purchases despite higher prices. On June 5, 2022, Egypt received its first shipment of Indian wheat purchased by the private sector.