'Millions vulnerable': Egypt hit hard by rise in global wheat prices

Surging import costs squeezing government purse, while potential cut in bread subsidy may spur angry backlash on streets

Watch #wheat . . .

#Egypt

https://www.middleeasteye.net/news/egypt-millions-vulnerable-rise-global-wheat-prices-climate-change

CAIRO - Egypt is scrambling to find alternate sources of wheat after the Russian invasion of Ukraine has put supply to the country in jeopardy. This is especially urgent because the price of bread in Egypt has in the past sparked protests in the country.

“We must purchase and stockpile wheat as quickly as possible before the Ukraine-Russia war breaks out, “Sawiris Tweeted.

#Egypt #Wheat

https://www.ipsnews.net/2022/03/egypt-rushes-find-alternative-wheat-suppliers-following-russian-invasion-ukraine/

Egypt buys half a million tonnes of wheat from India:

[IAF: This purchase was pending before India announced their ban — will be interesting to see price point.]

Egypt has four months' worth of strategic at reserves and six months of vegetable oils, the country's prime minister said earlier in the day.

Egypt, one of the world's biggest wheat importers, is looking for alternatives to Black Sea grain exports which face disruptions caused by Russia's invasion of Ukraine, both major wheat exporters to Egypt.

#Egypt #wheat

https://www.reuters.com/world/middle-east/egypt-agrees-buy-half-mln-tonnes-indian-wheat-supply-minister-2022-05-15/

Egypt BANS all transactions of wheat other than selling to the government. This is the next domino to fall as the big producers ban exports — countries that need imports (like Egypt) start to take total control of what remains and ration it:

—
Egypt banned trading of wheat by third parties until the end of August, the cabinet said on Tuesday, preventing any sales other than to the government.

Egypt aims to buy the whole harvest from local farmers, as it targets 6 million tonnes of domestic wheat this year after the Ukraine war cut it off from much of the Black Sea wheat it relied on.

#Egypt #Ukraine

https://www.reuters.com/article/egypt-wheat-idAFC6N2X1004