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Shipping data showed that Egypt imported 479,195 tonnes of wheat from Russia in March, up 24% year-on-year, and Ukraine imported 124,500 tonnes, down 42% year-on-year
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Russian ports remain open, said Mohammad El Gamor, a Cairo-based grain consultant for the Food and Agriculture Organization of the United Nations and the American Wheat Association
.
Although shipments slowed slightly after the conflict erupted in late February, they began to pick up in March
.
.
Although shipments slowed slightly after the conflict erupted in late February, they began to pick up in March
.
Traders say Egypt is heavily reliant on Black Sea wheat supplies due to favorable factors such as the quality, cost and location of Black Sea wheat
.
About 80% of Egypt's wheat imports in 2021 will come from Russia and Ukraine
.
.
About 80% of Egypt's wheat imports in 2021 will come from Russia and Ukraine
.
Since the outbreak of the Russian-Ukrainian conflict, Egyptian wheat importers have faced multiple blows, and wheat prices have risen sharply; Western economic sanctions against Russia have made payment more complicated; Black Sea wheat shipments have been disrupted, especially Ukrainian wheat
.
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Although Western sanctions against Russia do not cover agricultural products, traders say banks are reluctant to finance wheat imports from Russia
.
Importers are still trying to find a safe channel to pay for Russian wheat that has already been delivered, traders said
.
Some of the wheat was purchased before the conflict, so some payments have already been made, and merchants are talking to banks about how to resolve it
.
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Importers are still trying to find a safe channel to pay for Russian wheat that has already been delivered, traders said
.
Some of the wheat was purchased before the conflict, so some payments have already been made, and merchants are talking to banks about how to resolve it
.
Egyptian flour processors are very accustomed to using Russian and Ukrainian wheat, traders said
.
As long as Black Sea wheat is available, flour mills always give priority to Black Sea supplies
.
However, the private sector continues to import wheat from alternative suppliers
.
Shipping data showed that private traders have bought unusually large quantities of wheat from France, Brazil, Lithuania and Bulgaria, and may be buying German wheat on a rare occasion
.
Germany has not supplied wheat to Egypt for several years
.
.
As long as Black Sea wheat is available, flour mills always give priority to Black Sea supplies
.
However, the private sector continues to import wheat from alternative suppliers
.
Shipping data showed that private traders have bought unusually large quantities of wheat from France, Brazil, Lithuania and Bulgaria, and may be buying German wheat on a rare occasion
.
Germany has not supplied wheat to Egypt for several years
.
Egypt's General Directorate of Commodities Supply (GASC) canceled two tenders and said it would return to the market in mid-May due to a surge in wheat prices following the outbreak of the Russian-Ukrainian conflict
.
Egypt's wheat reserves have fallen to only 2.
6 months of demand, well below the government's six-month target, but are set to rise again as the purchase of domestic wheat begins this month
.
.
Egypt's wheat reserves have fallen to only 2.
6 months of demand, well below the government's six-month target, but are set to rise again as the purchase of domestic wheat begins this month
.
In 2021, Egyptian private trading companies will import more wheat than GASC, accounting for about 60% of total imports
.
.
