Covid-19 leads to import frenzy in Egypt

Egypt, the world's largest wheat importer, bought 40% more grain on the world market in the first two months of the new 2020/21 marketing year (July and August) compared to the same period in the previous year.
According to a report by the news service Reuters, the Egyptian Minister of Supply has ordered the country's strategic grain reserve to be guaranteed for nine instead of six months during the Covid 19 pandemic. The arrangement is so far without an end date.
85% of the wheat deliveries so far this year came from Russia. Russia is considering introducing a quota for wheat exports in early 2021, if the national supply situation so requires.
The USDA assumes that Egypt will import 13 million tons of wheat in the current marketing year 2020/21. The previous record is 12.6 million tons in the previous fiscal year.

Hansa Terminhandel GmbH
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