The Egyptian Minister of Supply, Cherif Farouksaid that Egypt should be given preferential treatment when importing wheat. This is true whether in terms of payment terms or preferential prices. Because it is the largest wheat importer in the world.
The minister added: “We will announce the management of our wheat needs, which amount to 3.8 million tonnes, before the end of 2024. And there could be direct cooperation with a foreign government.”
Egypt consumes about 20.6 million tons of wheat per year, but produces only about 9 million tons per year, according to data from the U.S. Department of Agriculture. The U.S. Department of Agriculture attributed Egypt’s annual increase in wheat imports to its growing population and higher consumption rate, with the presence of about 10 million foreigners.
Egypt’s wheat imports hit their highest level in the first six months of this year, jumping by about 34 percent thanks to an increase in the private sector’s share compared to that of the government, according to official data.
Egypt thus imported 7.5 million tonnes of wheat since the beginning of the year until July 15; against 5.6 million tonnes during the same period of 2023.
The Russian market remained Egypt’s largest wheat supplier, with imports since the beginning of this year amounting to about 5.8 million tons. That is, 77% of total imports, compared to 4.5 million tons. That is, 80% of Egypt’s total imports for the same period last year.
Ukraine came in second with 1.6 million tonnes, or 15.5% of total imports for the period, compared to 657 thousand tonnes, or 11.7% of total imports for the same period last year.
