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Tuesday, 28 September 2021

Russia wheat export tariffs could put Egypt in a “grave situation”

High export tariffs on Russian wheat could put Egypt and other buyers in a “grave situation,” the managing director of a Black Sea-region agricultural research firm writes for the Financial Times. Introduced by the Russian government earlier this year, the tariffs, alongside heightened fertilizer prices, could see farmers lose 15-30% of their income, potentially having a devastating impact on the country’s wheat industry as well as serious ramifications for its biggest buyers, such as Egypt. Russian grain accounts for nearly a quarter of global exports, and is Egypt’s biggest source of wheat.

The ongoing detention of Safwan and Seif Thabet, the top execs at EGX-listed Juhayna, is the subject of this Reuters report that has been widely picked up by global media outlets.

The UK is coming in for criticism over its refusal to accept the vaccination status of travellers from countries including Egypt. Writing for Bloomberg, journalist John Bowker says the policy, which has been called discriminatory and racist, exemplifies the UK’s “post-colonial approach” and sends “all the wrong messages.”

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