According to Bloomberg, the country’s grain buyer, the General Authority for Supply Commodities (GASC), bought 815,000 tonnes of wheat yesterday, taking advantage of a recent price slump. The purchase is the largest single acquisition of such goods since 2012 and comprised of 350,000 tonnes of French wheat, 240,000 tonnes of Romanian wheat, and 50,000 tonnes of Bulgarian wheat, the GASC said. Indeed, Egypt’s most recent purchase also included Russian wheat, which, despite their invasion of Ukraine, has remained the world’s largest wheat exporter, reaching a record high of 42.6 million tonnes in June-July. In Egypt, many still rely on heavily subsidised bread given to more than 70m people out of a population of 103m. India banned global wheat exports in May after the country’s supply was impacted by a scorching heat wave that surged prices internationally.

Source: The North Africa Journal June 30, 2022 11:55 UTC