Mostaqbal Misr accelerates wheat imports, targets 2.5M tons in 6 months
The Future of Egypt Authority for Sustainable Development (Mostaqbal Misr), in coordination with the General Authority for Supply Commodities, aims to import about 2.5 million tons of wheat through next March. The move seeks to secure market needs and hedge against potential global price fluctuations amid geopolitical tensions and trade disruptions, a member of the Supreme Wheat Committee told Al Manassa.
Since 2024, Mostaqbal Misr has taken over responsibility for grain imports from the Ministry of Supply and Internal Trade’s General Authority for Supply Commodities as part of new arrangements to secure national grain needs.
The source, who requested anonymity, said the import plan includes purchasing between 300,000 and 350,000 tons in October, followed by about 500,000 tons each in November and December. He noted that wheat origins will be diversified across Russia, Ukraine, France, and the United States.
Egypt’s wheat imports since the beginning of the year have reached 3.5 million tons, according to data collected by local traders and reviewed by Al Manassa, indicating that the state has decided to accelerate its import pace.
The source explained that the current purchasing strategy favors holding off on new contracts until global market prices cool. Backed by a strategic reserve covering six months of domestic consumption, state buyers can afford to time their purchases, executing trades based on live benchmark prices on global commodity exchanges and trading platforms.
Minister of Supply Sherif Farouk stated this week that Egypt, one of the world’s largest wheat importers, holds a strategic wheat reserve sufficient for six months. He highlighted the state’s efforts to diversify import origins to mitigate risks, noting that global wheat prices have risen from about $275 to $330 per ton.
The import plan comes as the global wheat market experiences disruptions linked to tensions in the Black Sea region, which includes top global exporters Russia and Ukraine.
Reuters reported Wednesday that buyers seeking to build inventories face significant purchasing cost increases over the coming weeks amid declining supplies and trade disruptions in the region.
In the local market, Abdel Ghaffar El-Salamony, deputy head of the Grains Chamber at the Federation of Egyptian Industries, told Al Manassa that imported wheat prices recently rose to 16,000–17,250 Egyptian pounds (about $310 to $335) per ton. This surge directly impacts the production costs of unsubsidized and fino bread, he noted.
Mid-month, Al Manassa documented a flour price increase of about 3,000 pounds (about $58) per ton since the beginning of August. This spike coincided with a decline in wheat supplies from Russia and Ukraine over recent months.
El-Salamony said Russian grain shipments arriving in Egypt have dropped from about 20 vessels per month to just two or three. He noted the recent arrival of a Russian shipment with limited quantities designated for the private sector.