Ukraine faces tough competition on the Egyptian grain market, according to PROMETEY

Published 2024년 8월 1일

Tridge summary

Egypt, a traditionally major importer of Ukrainian wheat, has seen a decrease in Ukrainian grain supplies, with Russia becoming a more competitive source. In the first half of 2024, Egypt imported 7.3 million tons of wheat, with only 1.16 million tons from Ukraine and 5.68 million tons from Russia. Oleg Yashulin, the head of PROMETEY's foreign economic activity department, attributes this to Russia's unfair dumping and sales of wheat from occupied territories at lower prices. Despite this, Ukraine maintains its leading position in corn exports to Egypt. PROMETEY, which has been operating in the Egyptian market since the full-scale Russian invasion of Ukraine, plans to expand into European markets, particularly Spain, and continues to see potential in the Egyptian market.

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

Original content

Traditionally, Egypt is a key importer of Ukrainian wheat. According to operational export statistics, Egypt is among the top 5 main grain importers. But the volume of Ukrainian grain supplies to this country is decreasing with each subsequent season. This is reported by analysts of PROMETEY agricultural holding. Russian grain is fierce competition for Ukrainian grain. In the first half of 2024, a total of 7.3 million tons of wheat were imported into Egypt. Of them, only 1.16 million tons came from Ukraine. At the same time, Russia delivered 5.68 million tons of wheat to Egypt. Oleg Yashulin, head of the PROMETEY foreign economic activity department, believes that Russian wheat will benefit from unfair dumping. The grain has a low quality, and accordingly, a lower price. "...In addition, Russia exports wheat from the occupied territories of Ukraine, in particular from Crimea. And sells it at low prices. Ukraine cannot sell so cheaply, that is why we have a situation where Russia ...

Source: Elevatorist