Egypt ready to export wheat from Russia to Arab countries, media write

The General Directorate for the Supply of Goods under the Egyptian Ministry of Supply has confirmed the possibility of exporting Russian wheat from Egypt to neighboring countries if Moscow establishes a global logistics distribution center in the economic zone of the Suez Canal.

"Egypt may increase purchases of Russian wheat, and then export wheat and other cereals to neighboring countries if a logistics distribution center is created in the economic zone of the Suez Canal," the department told RIA Novosti.

The Egyptian authorities believe that "the logistics center in the economic zone will serve as a hub for the storage and trade of wheat and other cereals in Egypt, the Arab region, as well as in the countries of North and East Africa."

As to how Egypt was affected by Russia's suspension of the UN-sponsored grain deal with Ukraine and Turkey, the Egyptian ministry said that "Egypt, like other importing countries, is suffering from rising and fluctuating world wheat prices."

According to the ministry, it entered into a contract to purchase 360,000 tons of Russian wheat on August 2 to create a strategic stockpile, and the shipping period is scheduled for September 1-10.

In mid-July, Nasr Nomani, an adviser to the Egyptian Minister of Supply for supplying Nomani commodities, confirmed that Egypt was looking to increase wheat stocks by diversifying import sources in addition to local production. The First Assistant to the Minister of Supply of Egypt and the head of the Egyptian Commodity Exchange, Ibrahim Ashmawi, explained earlier to RIA Novosti that Egypt is one of the largest importers of wheat, and the share of Russian wheat in its imports is estimated at 80%.

Egyptian President Abdel Fattah el-Sisi said during an inspection of a military academy on Saturday that the country will still need wheat supplies from abroad in light of growing domestic consumption, even with the government's efforts to increase farmland.