Egypt’s private sector grabs bigger share of wheat trade

Egypt’s wheat import landscape is undergoing a transformation as private companies significantly expand their market share while the country grapples with tightening corn supplies from South America amid the expectation of a record import of wheat and corn this season. Since the marketing year began in July, private companies have increased their wheat import share to 75.8%, while the state’s portion plummeted to 24% of total imports. This marks the first time in two decades that private sector participation has risen so dramatically in Egypt’s wheat trade, traditionally dominated by state entities. Since Dec. 6, state agency Mostakbal Misr has managed state wheat imports, shifting its purchasing strategy from its predecessor, the General Authority for Supply Commodities, by acquiring wheat from local Egyptian companies and privately from international suppliers, rather than participating in tenders. “Mostakbal Misr still lacks the experience in international trade. If the ...