January 30, 2024

 

Egypt's wheat import soars with 39% increase in Russian supply

 
 


Egypt witnessed a substantial surge in its imports of Russian wheat, marking a 39% year-on-year increase in 2023, Zawya reported.

 

According to a government document, the volume of Russian wheat imported by Egypt reached 7.5 million tonnes, a significant uptick from the 5.4 million tonnes recorded in 2022.

 

This notable rise in Russian wheat imports coincided with a considerable decrease in its average price, dropping by 27% to US$260 per tonne in 2023 compared to US$360 per tonne in the previous year, as reported by a government official.

 

Ukraine secured the second position in wheat exports to Egypt, contributing 1.2 million tonnes, followed closely by Romania with an approximate 1 million tonnes, according to the same document.

 

Overall, Egypt experienced a 12.5% year-on-year increase in its total wheat imports for 2023, reaching 10.8 million tonnes, compared to 9.6 million tonnes in 2022, as outlined in the official document.
 

-        Zawya

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