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Sunday, 23 August 2020

Egypt’s wheat imports to fall slightly this year

Egypt’s wheat imports to fall slightly this marketing year -USDA: Egypt, the world’s leading grain buyer, is projected to import 13 mn tonnes of wheat in MY2020-2021, down slightly from a record 13.3 mn tonnes in MY2019-2020, a US Department of Agriculture report (pdf). Last marketing year’s spike in wheat imports came partially as a result of the government stockpiling strategic reserves during the covid-19 pandemic. Egypt imported 5 mn tonnes of wheat in 1H2020, down 16.6% y-o-y compared to 6 mn tonnes in the same period last year. Egypt’s wheat consumption is projected to remain largely unchanged at 20.8 mn tonnes, the USDA says. Local farmers are expected to produce 9 mn tonnes of wheat this season.

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