Egypt and Algeria could see their domestic wheat harvests swell 25% more this year than last if favourable weather projections hold, Bloomberg reports, noting, “That means imports from the region could drop from a record high to a three-year low, according to Chicago-based researcher AgResource Co. … While global demand for wheat has never been bigger, output has risen even faster, and prices have plunged for four straight years.”

The suggestion comes as state grain buyer General Authority for Supply Commodities (GASC), the world’s largest buyer of wheat, bought 360k tonnes of wheat from international markets, traders told Reuters. Broken down, GASC bought 300k tonnes of Russian wheat and 60k tonnes from Ukraine. This comes as Egypt finalized its rejection of 18,000 tonnes of Russian wheat that had originally been seized in November, saying it is unfit for human consumption due to the large number of insects found at the storage site in Dekheila port, Al Mal reports. The shipment will be returned to Russia.