As Egypt tries to navigate the impact of the war in Ukraine on global agricultural trade, the state’s grains buyer has abandoned the caution shown during the first months after the outbreak of the conflict and returned to international markets in June in order to make up for the country’s falling wheat stocks and shore up a key part of its food security.
In total, the General Authority for Supply Commodities (GASC), which is responsible for grain procurement for Egypt’s bread subsidy program, has locked in almost 2,500,000 tons of wheat since early June, in part supported by a loan from the World Bank to bolster its food security. The purchases, which will be shipped over the next four months, included the largest single tender in a decade and show the suppliers Cairo is turning to in order to fill the gap left by Ukraine, which accounted for 22% of its wheat imports.
