Al Dahra and ADEX enter into a $500 million agreement to supply wheat to Egypt

UAE-based agribusiness Al Dahra has signed a five-year, $500 million deal with the Abu Dhabi Export Office (ADEX) to supply wheat to Egypt, Zawya reported.

As noted, the agreement, worth $100 million a year, will ensure the import of food wheat to Egypt "at competitive prices."

"ADEX's low-cost financing package helps us procure the highest quality wheat at the lowest cost and with the most comfortable payment terms," Egyptian Minister of Procurement and Domestic Trade Ali Moselhi said in a statement.