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Egypt proposes to create an international grain trading center in the country

Egypt
Published Sep 26, 2022

Tridge summary

Egyptian Foreign Minister Sameh Shukri proposed the creation of an international grain trading center in his country. He stated this during his speech at the UN General Assembly. “Egypt has a unique geographical position, so we are ready to cooperate with the international community and create an international center for grain storage, supply and trade. This will contribute to collective food security,” Shukri said.

Original content

According to him, the COVID-19 pandemic and the conflict between Russia and Ukraine have exacerbated "the plight of the most vulnerable states." He also believes that the world community has not been able to implement food security programs for many years. In May, Reuters wrote that 300 thousand tons of grain destined for Egypt got stuck in Ukraine. Cairo is seeking to diversify its grain supply in order to increase its strategic reserves. In particular, Egypt agreed to buy Indian grain. According to the agency, in July the country purchased more than 1 million tons of wheat through tenders and direct purchases. On July 28, Reuters reported that the Egyptian General Directorate for the Supply of Goods (GASC) released the Ukrainian companies Nibulon and Inerco Trade (owned by Kernel agricultural holding) from contractual obligations to deliver 240 thousand tons of wheat, which the state buyer booked for delivery in February and March . According to the agency, four batches of grain ...
Source: Zol
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