Egypt is in talks with an Abu Dhabi-based bank for a loan facility that would finance wheat purchases from Kazakhstan, reported Reuters, citing three traders. The move could give Egypt a cheap alternative to grain [ More … ]
Egypt will switch to sourcing almost half a million tons of wheat from France and Bulgaria, after Moscow blocked the supply of Russian grain, according to people familiar with the matter, reported Bloomberg. Moscow objected [ More … ]
Egypt criticized Russia’s exit from the Black Sea grain-export initiative and said it will continue to import Ukrainian wheat even after the collapse of the United Nations-backed agreement this week. “We are not pleased with [ More … ]
According to Bloomberg, Egypt said that “India is providing credit line to boost its economy”. However, soon after, Reuters reported that the Egyptian Supply Minister denied that a credit line had been opened with India. [ More … ]
Egypt has postponed payments for its large wheat purchases, in some cases by months, reported Reuters, citing a government official and traders. Egypt, which grapples with a shortage of hard currency, is one of the [ More … ]
Oil prices staying at $122 per barrel will cost the Egyptian budget $7.2 billion, Egyptian Finance Minister has told CNBC Arabia. Egypt’s Finance Minister Mohamed Maait said Sunday that higher global wheat prices and pressure [ More … ]
Egypt could receive more than $600 million from the World Bank and the European Union to help it deal with growing food insecurity Egypt stands to access more than $600 million from the World Bank [ More … ]
The General Authority for Supply Commodities (GASC), Egypt’s state grain buyer, bought 350k tons of wheat from France, Russia, and Bulgaria in its first concluded tender since war broke out in Europe’s breadbasket, Bloomberg reported. [ More … ]
Farmers who don’t deliver wheat quota have been threatened with jail as price spike jeopardizes Egypt’s 270 million daily loaves. However, some believe that Egypt’s wheat plan splits the industry. In the wake of the [ More … ]
Russia’s invasion of Ukraine may cost Egypt about 955 million dollars in wheat import bills as wheat prices hit record highs. Egypt imports roughly 70 per cent of its wheat from Russia and Ukraine and [ More … ]
The global wheat prices have recently soared due to the energy crisis that has cast its shadow on supply chains around the world, hitting Egypt, the largest wheat importer, extremely hard. Under pressures from supply [ More … ]
A plan by the Egyptian government to make the country self-sufficient in wheat will likely fail by the 2040s, according to a study by researchers in Egypt and the US. The plan involves intensifying farming [ More … ]
Egypt may have to import more wheat – and at higher prices – as problems from payment disputes to a fungus-tainted cargo disrupt supplies to one of the world’s top importers. Egypt has rejected a [ More … ]
For the first time since al-Sisi reached power after a military coup he led against Mohamed Morsi, the Egyptian-Russian relations are criticized on the Egyptian media. Last year, the Egyptian-Russian relations have flourished as Egypt’s relations with [ More … ]
Russian Airliner “Aeroflot” has received its offices in Cairo Airport’s passengers building in preparation for resuming its flights to Egypt, according to RT . Sources said that the Russian company has prepared its offices inside [ More … ]
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