이집트 곡물 및 시리얼 인사이트

Egypt is failing to purchase the planned quantities of wheat from local farmers, and weak imports are contributing to an increased risk of shortage in the domestic market.

In brief: • Egypt makes a large wheat purchase from Romania, Ukraine, and Russia • IGC increases global grain production forecasts According to experts, market pressure from the last week is due not so much to expectations for the new harvest as to the macroeconomic context. The rise of the euro/dollar exchange rate above 1.17 marked its highest level in nearly four years, making European origin even less attractive on the international market. From the perspective of harvests, according to the June grain market report by the International Grains Council (IGC), global grain production forecasts for 2024-25 have been increased by 3 million tons to 2.313 billion tons due to an increased value for corn, IGC reported. "The increased result does not compensate for the more limited initial stocks and total supply is expected to shrink compared to the previous year," IGC commented. "Global carry-over stocks are forecast to shrink by 4%, to 10-year..."

Egypt has begun shutting down some local wheat collection centres ahead of schedule, signalling that the harvest is nearing its end with purchases falling short of the government’s target, according to a supply ministry document seen by Reuters. The shortfall comes as Egypt, often the world’s largest wheat importer, seeks to secure affordable supplies for a vast subsidised bread programme that feeds nearly 70 million people, amid high inflation and ongoing economic strains. The government had aimed to procure between 4 and 5 million metric tons of wheat from a local harvest it estimated at around 10 million tons. The season, which started mid-April, officially runs through mid-August. However, as of Saturday, June 28, just over 3.9 million tons had been collected, according to a second, separate official document reviewed by Reuters. In recent days, the supply ministry has started gradually closing some collection points across the country, citing low volumes being delivered by ...