Egypt is interested in Ukrainian wheat, despite seasonal decline in activity

Despite the seasonal decrease in activity during the holy month of Ramadan, Egypt is interested in purchasing Ukrainian wheat.

Importers continue to show interest in grain purchases, UkrAgroConsult reports.

According to traders, the market recorded interest in purchasing up to 25 thousand tons of wheat originating from Ukraine or the Black Sea region with a protein of 11.5% at a price of about $250/t C&F for delivery in March. Wheat with a protein content of 12.5% ​​was estimated at about $253/t C&F for delivery in February.

Traders note that during Ramadan, demand traditionally slows down due to a decrease in trade activity in Muslim countries. At the same time, Egypt’s interest in Ukrainian wheat is supported by the country’s stable need for grain imports.

Earlier, USM reported that BIMCO predicts an increase in global grain supplies by sea.