Egyptian opinion about Ukrainian wheat: concerns but not a panic
According to operators of Egyptian market, trade relations between Egypt and Ukraine are maintained without any significant changes.
Operators of Egyptian grain market point out the absence of any difficulties in shipments of previously contracted grains cargos. Moreover private traders keep on purchasing Ukrainian wheat and maize as needed and in case of attractive prices. At the same time, Egypt can reduce the imports of Ukrainian wheat in April due to the beginning of harvesting campaign in the North African country.
It should be noted that Egyptian traders doubt that current tension between Russia and Ukraine could negatively impact on Black Sea grain market. Thus, in case of any difficulties in imports of grains form Ukraine they will turn to Russian and other Black Sea origins.
It should be remind that Egypt imported 1.86 mln tonnes of Ukrainian wheat since the beginning of 2013/14 MY that is 21% more than at the same period last year. Egypt imported 1.53 (0.62) mln tonnes of Ukrainian maize since the beginning of current season.
At the same time, Russia shipped 2.4 mln tonnes of wheat to Egypt in July-January 2013/14 MY against 2.66 mln tonnes year earlier. It should be noted that Russia does not supply maize to Egypt in current season the same as last year.
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