Egypt is forced to buy Russian wheat due to the economic crisis

Egypt’s demand for cheap wheat from Russian Black Sea ports will remain high.

Egypt’s demand for wheat from the Black Sea ports of the Russian Federation remains high, as inflation significantly affects the country’s economy. This was reported in the analytical agency ASAP.

The war between Hamas and Israel negatively affects the work of the Suez Canal, which reduces Egypt’s income. However, recent financial inflows from the IMF have helped to stabilize the country’s economic situation, providing some support to the trade sector.

Due to the low cost, Russian wheat is increasingly represented in the tenders of the State Food Procurement Agency of Egypt (GASC). At the same time, the Russians themselves are actively looking for opportunities to conclude direct contracts with Egypt.

The government’s planned increase in local purchases of wheat to 3.5 million tons will not be enough to abandon imports, experts say.