Egypt, which is generally the world’s largest wheat importer, is seeing a spike in bread and flour costs as a result of Russia’s invasion of Ukraine, which cut off access to lower-cost Black Sea wheat.
In the aftermath of the Black Sea crisis, India, the world’s second largest wheat grower, has emerged as a major provider of the crop to a number of nations who are experiencing shipping interruptions and sky-high grain prices.
Although Egypt has traditionally purchased Russian and Ukrainian wheat, the sources added that India is prepared to assist Cairo by delivering the grain. The sources did not want to be identified due to official constraints.
According to them, Egypt might acquire up to 12 million tonnes of Indian wheat.
According to the sources, the Egyptian group will meet with possible Indian customers, investigate logistical and other concerns, and test various grades and quality levels of Indian wheat.
“India is in a position to offer Egypt top-grade wheat that meets Egypt’s quality and other standards,” one insider said.
India’s Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, Piyush Goyal, visited Egypt’s Minister of Planning and Economic Development, Hala Elsaid, in Dubai on Tuesday and discussed New Delhi’s “readiness to deliver high-quality wheat” to Cairo.One of India’s state-run export promotion bodies would assist the Egyptian delegation, the sources said.
Egypt’s Prime Minister, Moustafa Madbouly, warned on Monday that Cairo is relying on France to secure essential commodities such as wheat.
Egypt’s Supply Minister Ali Moselhy said on March 24 that Egypt is in negotiations with Argentina, India, France, and the United States about future wheat imports, but that the country is not in a hurry to buy.
He stated that Indian suppliers will still need to obtain certification from the General Authority for Supply Commodities, the state buyer. find out more
Egypt imposed a fixed price for unsubsidized bread earlier this month to combat a 25 percent increase in bread costs to 1.25 Egyptian pounds ($0.07) per loaf in some bakeries. find out more.
