Egypt’s private-sector wheat importers suffer an urgent crisis
Full details
| Authors & editors | |
| Publisher | Milling & Grain |
| Year of publication | 2022 November |
| Languages | |
| Medium | Digital |
| Edition | 1 |
| Topics | |
| Tags | |
| Scope & content | By Dr Mahmoud Riyad, Secretary-General, Egyptian Milling Association, Egypt Egypt, with a population of 104 million, is typically the world’s biggest wheat importer. Private sector imports recently overtook those by the state buyer, which purchases wheat for a large, subsidised bread program. The war in Ukraine has exacerbated the shortage of foreign currency. Capital inflows have dried up, particularly to the local debt market. Net foreign reserves decreased to around US$33 billion at the end of August, dropping from around US$41 billion in January 2022. According to an article that appears in print in the October 6, 2022 edition of Al-Ahram Weekly, which declared that grain mills are also affected. The Cereals Chamber of the Federation of Egyptian Industries wrote a memo to the Ministry of Industry complaining that mills were coming to a standstill because of a lack of wheat to grind…Read more. |
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