Egypt’s wheat imports from Russia rise

Egypt, often the world's top wheat buyer, saw a rise in imports of the grain from Russia in March despite supply and payment disruptions following its invasion of Ukraine that also drove traders to seek shipments from other suppliers.

Egypt received 479,195 tonnes of wheat from Russia in March, 24 per cent up from the same month last year, according to freight data seen by Reuters. Ukrainian wheat imports stood at 124,500 tonnes, down 42 per cent year-on-year.

"Russian ports remained open," said Mohammed El Gammal, a Cairo-based grains consultant for the UN Food and Agriculture Organisation and US Wheat Associates.

"Shipping slowed a little in late February and it picked up in March, whether for new contracts or old ones signed before the invasion."

Egypt relies heavily on Black Sea wheat due to its quality, cost and proximity, traders say. In 2021, Egypt imported around 80% of its wheat from Russia and Ukraine.

Since the February 24 invasion, wheat importers in Egypt have faced record-high prices, payment complications due to sanctions against Russia, and disruptions to Black Sea wheat shipments, especially from Ukraine.