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Thursday, 28 September 2017

UK wheat producers looking to increase exports to Egypt

Brexit is driving UK wheat producers to try to open Egypt as an export market, Manisha Jha writes from Bloomberg. As things stand, the European Union is the top destination for UK wheat, but things could change once the UK exits the EU. A UK trade delegation arrived to Cairo yesterday to showcase British flour to millers and bakers from four private and three government-controlled Egyptian companies, “which together control 70 to 80 percent of Egypt’s wheat imports, the Agriculture and Horticulture Development Board said in a statement.” The Board’s international market development director says: “in a post-Brexit environment, the ability to be fleet of foot when export opportunities arise is key… [Egypt is] a significant [potential market] for British agriculture, which typically produces a surplus of wheat and exports over 80 percent of this to the European Union.”

…While the Brits are trying to woo us, Ukraine says Egypt has been the “key market” for its wheat this season so far, according to UkrAgroConsult. Shipments to Egypt have increased by 39% y-o-y to 465.5 KMT of wheat from July to August 2017.

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