April 10, 2013

Kazakhstan wheat exports to Egypt may resume

Egypt may resume wheat imports from Kazakhstan after a two-year hiatus, said Reda Agag, adviser to the minister of supply.

Supply Minister Bassem Kamal is meeting a delegation from Kazakhstan on the matter, added Agag.

Egypt, the world's biggest wheat importer, had halted imports of Kazakh wheat due to the rising cost of transport from the landlocked country.

Imports from Kazakhstan were carried by rail and air to Russian and Ukrainian ports, raising the price to uncompetitive levels, Agag said, adding that the Kazakh authorities may look into providing financial assistance to Egypt.

Cairo's main foreign suppliers are the US, Russia and France.

Egypt needs around nine million tonnes of wheat for its subsidised bread programme and imports around 10 million tonnes yearly. The country's wheat reserves fell to two million tonnes as of April 3, 2013, enough to last 81 days.