September 22, 2023

Egypt eyes wheat imports from France and Bulgaria amid Russian supply halt

Egypt is exploring the possibility of importing approximately 500,000 tonnes of wheat from France and Bulgaria after Russia suspended wheat supplies due to pricing disputes, sources revealed, Zawya reported.

This decision comes in the wake of Russia's suspension of wheat exports to Egypt, citing objections to the pricing terms of a significant wheat deal. Moscow authorities are reportedly seeking to establish an unofficial minimum price for grain transactions.

In August, reports indicated that Egypt was poised to benefit from a five-year, US$500 million financing package extended by the UAE. The financing is intended to facilitate wheat imports to Egypt, with shipments expected to commence in January 2024.

-      Zawya