Egypt, often the world’s top wheat importer, cancelled a previous international purchasing tender on Thursday because of low turnout from major exporters.
Russia and Ukraine are frequently the top exporters of wheat to Egypt, making up around 50% and 30% of its wheat imports in 2021, respectively, data from two regional traders shows. GASC is expecting 180,000 tonnes of Ukrainian wheat between Feb. 15 and March 3. It is expecting another 180,000 tonnes of Ukrainian wheat in March. Traders have warned of the risk of force majeure that would cancel the contracts.
Egypt’s prime minister and central bank governor on Thursday discussed the availability of funds to cover imports of strategic commodities.Russian forces landed at Ukraine’s Black and Azov Sea ports as part its invasion, and Ukraine has suspended commercial shipping at its ports, although some Russian Black Sea ports remain open, traders said on Friday.
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