Russia seizes Egyptian wheat market

Market & Price Trends
Published Feb 22, 2024

Tridge summary

Russia has significantly increased its wheat exports to Egypt by over a third, reaching $2.3 billion in the first eleven months of 2023, making it the largest supplier of wheat to the country. Other key suppliers include Ukraine, which doubled its exports to $411 million, and Romania, which saw a decrease in its exports to $339 million. Bulgaria experienced the most significant drop in wheat shipments to Egypt, with a ninefold decrease to $19.5 million.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

russia increased its wheat supplies to Egypt by more than a third in annual terms to $2.3 billion in the first eleven months of last year, bringing its share of Egyptian imports to more than 70%, according to calculations by the russian RIA Novosti. Thus, in January-November 2023, Egypt purchased $3.25 billion worth of wheat on the global market, which is 6% less in annual terms. At the same time, the country spent 5.5 billion dollars on the grain purchases, compared to 5.9 billion dollars in the same period of 2022. russia remained the largest supplier of wheat to the country, supplying Egypt with 2.3 billion dollars worth of wheat during this period, compared to 1.7 billion dollars in the same period a year earlier. As a result, Russia’s share of wheat supplies to Egypt increased to 71% last year from 49% in 2022. Other major suppliers of wheat to Egypt were Ukraine, which doubled its supplies to $411 million, and its share reached 13%, up from 6% a year earlier. At the same ...
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