Egypt is studying scenarios for dealing with Russian wheat tariffs

Published 2020년 12월 17일

Tridge summary

Russia has introduced export quotas and customs duties on wheat for the period from February 15, 2021, to June 30, 2021, in an effort to stabilize flour and bread prices domestically. The quotas set the export volume at 17.5 million tons, with a fee of 25 euros per ton for those within the quotas and 50% or 100 euros per ton for those outside. Egypt, a major importer of wheat, is considering several options in response, including reducing Russian wheat imports, continuing them with the new costs, or expanding wheat cultivation in Africa. In 2019, Egypt imported over 13 million tons of wheat, primarily for bread production.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Government officials revealed Egypt's status of several options after the Russian government decided to set export quotas for grains (wheat, corn, and barley), from February 15, 2021 to June 30, 2021, as well as imposing customs duties on wheat exports to stabilize the prices of flour and bread. The day before yesterday, Russian Prime Minister Mikhail Mishustin issued a decision on fixing the prices of flour and bread in Russia, and the share of wheat, barley and corn exports was set at 17.5 million tons in the mentioned period. It was also announced that a fee of 25 euros per ton of wheat exported within the export quotas was announced, as for the quantities that would be exported outside the export quotas, a fee of 50% but not less than 100 euros per ton would be imposed on them. Read also the signing of a memorandum of understanding to establish a center of excellence. In this context, Dr. Adel El-Ghandour, a member of the Association of Producers and Exporters of Horticultural ...

Source: Almalnews