Skip to content
Edit post

Bloomberg: Egypt to import 480,000 metric tons of Russian wheat

by Dominic Culverwell October 11, 2023 11:09 PM 2 min read
A worker at a government-operated grain silo in Al Qorin, Egypt. (Islam Safwat/Bloomberg via Getty Images)
This audio is created with AI assistance

Support independent journalism in Ukraine. Join us in this fight.

Become a member Support us just once

Egypt's state-owned buyer General Authority for Supply Commodities (GASC) has booked around 480,000 metric tons of Russian wheat, Bloomberg reported on Oct. 10 citing anonymous traders.

The deal amounts to eight cargoes and accounts for 4% of Egypt’s annual wheat imports.

The wheat is expected to be shipped in November and December, the traders said.

It comes after reports that Cairo was close to making an agreement with Russia’s United Grain Co. (OZK) for 1 million metric tons of wheat at the end of September.  The Russian government owns a majority stake in OZK.

OZK told Bloomberg that it did not have information on commercial shipments outside public tenders.

One of the world's leading grain buyers, Egypt imported 62.6 million metric tons between 2017 and 2021, with 59.7% coming from Russia and 22.3% from Ukraine.

Russia's termination of the Black Sea Grain Initiative on July 17 and attacks against Ukraine's ports continue to hamper Kyiv's grain exports. Moscow is seeking to replace Ukraine's agricultural products on the global markets with its own supplies.

Moscow prevented the sale of 480,000 metric tons of wheat to Egypt last month as the price was said to be below Russia’s unofficial price floor, Bloomberg reported on Sept. 20.

Egypt has enjoyed cheap Russian wheat following Russia’s full-scale invasion of Ukraine, but Moscow has been raising prices recently.

The Russian government implemented the price floor in an attempt to control domestic wheat prices.

Allies in discord: Roots of recent quarrel between Poland and Ukraine
Over the past year, allied nations Poland and Ukraine went from displays of enthusiastic support and gratitude to trading veiled accusations in the UN General Assembly. When Russia launched a full-scale invasion, Poland took the initiative to provide weapons to Ukraine and called on others to do th…

News Feed

12:24 PM

Georgian volunteer fighter reportedly killed in Ukraine.

In comments to The Kyiv Independent in February, the Georgian Legion, one of the leading groups of Georgian volunteer fighters, said that at least 59 Georgian fighters had been killed in battle since the beginning of the full-scale war.
Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
10:05 AM

Russia claims Ukrainian drone attack against occupied Crimea.

Razvozhayev claimed at 4:10 a.m. local time that Russian defenses shot at least one drone over Cape Fiolent on Crimea's southern coast. The attack ended at around 6 a.m., resulting in damage after a drone fragment fell on a house but leaving no casualties, he added.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.