Egypt is considering importing wheat from Turkey alongside other origins, according to Hossam Elgrahy, Vice Chairman of General Authority for Supply Commodities (GASC) who spoke to Asharq Bloomberg.

The volume of Egypt’s strategic reserve of wheat reached 6.3 months, sugar 13 months, oil sufficient for 6.2 months, frozen and live meat contracts sufficient for 10 months, and poultry contracts sufficient for 10 months, Elgrahy added.

Egypt increased the volume of wheat imports during the first half of 2024 by about 28.3%, due to the availability of the dollar in banks in recent months, in addition to the decline in global wheat prices.

During the H1 of 2024, Egypt imported 6.8 million tons, compared to 5.3 million tons in the same period last year, according to a government official who spoke to Asharq earlier.

Earlier in August, The Ministry of Supply and Internal Trade raised the selling prices of wheat, both local and imported, destined to produce subsidized bread by about 20% to reach EGP 13,750 per ton starting this August, according to a government document seen by Asharq Bloomberg.

The government document indicated that mills also raised the prices of flour supplied to local bread bakeries to EGP 16,000 per ton starting from the beginning of August, compared to the previous price of EGP 11,800 per ton, an increase of 35%.