Egypt's Wheat Imports Plummet Amid Global Price Surge

Egypt's wheat imports plummeted by 76.6% in September to 362,512 tons, down from 1.548 million tons in the same month last year, according to a Commodity Exchange document reviewed by Al Manassa.

The decline is largely attributed to a surge in global prices due to the ongoing Russian-Ukrainian war and subsequent export reductions.

Hisham Soliman, manager of Mediterranean Star Trading and Grain Import Company, stated that the quantities collected from the local wheat harvest contributed to reducing import needs for now.

A stronger dollar against the pound and widespread caution among private importers also weighed on imports.