Egypt allows the export of Russian wheat to neighboring countries through a logistics center near the Suez Canal.

Egypt has allowed the export of Russian wheat to neighboring countries through a logistics center near the Suez Canal. This decision will help increase purchases of grain crops. Egypt has signed a contract for 360,000 tons of wheat from Russia for strategic reserves. The country is looking for new sources of wheat supplies due to fluctuations in global prices.

12 September 2024

The Supply Management Department within the Ministry of Supply of Egypt has confirmed the possibility of exporting Russian wheat from the country to neighboring states, provided that Moscow establishes a global logistic distribution center in the Suez Canal Economic Zone.

The Egyptian government believes that the creation of a logistic distribution center in the Suez Canal Economic Zone will significantly increase purchases of Russian wheat and other cereal crops. Additionally, the wheat will be able to be exported to neighboring countries.

The department noted that the proposed logistic center will be used for storing and trading wheat and other cereals not only in Egypt but also throughout the Arab region, as well as in North and East African countries.

Regarding the impact of Russia's suspension of the grain agreement with Ukraine and Turkey on Egypt, the department stated that the country, like other importers, is facing difficulties due to the rise and fluctuations in global wheat prices.

According to the ministry's data, a contract for the purchase of 360 thousand tons of Russian wheat was signed on August 2 to create a strategic reserve. Shipment is scheduled for the period from the first to the tenth of September.

In mid-July, the advisor to the Egyptian Minister of Supply for goods procurement, Noman Nasr Noman, confirmed that the country aims to increase wheat reserves by diversifying import sources in addition to local production.

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