Transition from GASC to Future of Egypt throws wheat market into chaos

newly appointed agency, without public explanation or proper preparation. As a result, Egypt — one of the world’s largest wheat importers — saw its imports fall by more than 27% in the first half of 2025, totaling 5.2 million tonnes. The government’s share of purchases dropped even more sharply, down 57% to 1.5 million tonnes. Analysts say the decline reflects the complete lack of experience within Future of Egypt, unresolved financial arrangements between the two agencies, and poor communication with international exporters. Experts note that global grain trading is a conservative industry built on long-standing relationships. The sudden entry of unfamiliar officials without a developed reputation has made leading wheat exporters hesitant to sell to Egypt. Additional complications arose when Future of Egypt scrapped GASC’s transparent tender system and shifted to bilateral negotiations, making procurement more irregular, less predictable, and less transparent. The situation ...