Egypt will continue increasing import of wheat, corn and soybean in the next 5 years, declared Hesham Soliman, CEO of United Grain, within Grain&Maritime Days in Odessa-2021 on May 26.
“Egypt actively imports primary wheat to cover the needs of constantly growing population. The import of wheat will amount to 13.2 mln tonnes in 2020/21 MY. GASC buys about a half of this volume for further use for bread subsidy program”, - he said.
H.Soliman said that Egypt increased purchases of Black Sea wheat in the last 3 seasons. GASC has imported 4.6 mln tonnes of Black Sea wheat in 2020/21 MY, including 3.67 mln tonnes of Russian origin and 705 thsd tonnes of Ukrainian origin. At the same time, the demand for US wheat decreased sizably due to the high prices of the grain as well as expansive and long transportation.
“Egypt will continue importing wheat actively, as the expected annual population growth at 2.5% will bring extra 500 thsd tonnes to wheat consumption. Russia will remain the leading supplier of wheat to Egypt, despite the higher price amid the export duty implementation”, the speaker said.