Out of this quantity, approximately 5 million tons were allocated for government purposes, while the remainder was intended for the private sector.
The Egyptian government declined its wheat import target for 2024 by 17%. The new target now stands at 5 million tons, compared to the previous target of 6 million tons, Minister of Supply and Internal Trade, Ali Al-Moselhi stated during an interview with Asharq Bloomberg.
This adjustment is primarily attributed to the increased local supply target for the current season, which has been raised to 3.7 million tons instead of the previous goal of 3.5 million tons, Al-Moselhi added.
In 2023, Egypt witnessed a surge in wheat imports, reaching a total of 11 million tons, compared to 9.6 million tons in 2022.
Out of this quantity, approximately 5 million tons were allocated for government purposes, while the remainder was intended for the private sector.
To further strengthen Egypt's position in the grain market, the Egyptian Holding Company for Silos and Storage (EHCSS) has initiated discussions with the Russian government regarding the establishment of a grain center in Egypt's East Al-Tafria area in Port Said, the minister of supply confirmed.
This joint endeavor aims to transform Egypt into a prominent grain export hub, enabling the country to collaborate with Russia in both supplying and exporting grains.
Minister of Trade and Industry, Ahmed Samir, informed the Russian Information Agency that an Egyptian company has submitted a feasibility study to the Russian government, outlining plans for constructing a grain center in Egypt.
Currently, Egypt has already amassed 3.4 million tons of locally produced wheat and is actively working towards achieving the revised target, as stated by the Minister of Supply.
