Source: Ukragroconsult (Ukraine)
Egypt has set the maximum price for future wheat purchases at $240 per metric ton, an unnamed government official told Asharq Business. The representative added that Egypt does not need to buy new batches of imported wheat at the moment, given the rise in world prices.
The country’s strategic wheat stocks are sufficient to meet demand for 5.2 months.
In the first nine months of 2024, Egypt imported 10.8 million tons of wheat, which is a third more than in the same period last year (8.3 million tons).
As a reminder, at the beginning of October, the Egyptian State Food Procurement Authority (GASC) agreed to directly purchase 3.12 million tons of wheat.