Coronavirus Prompts Major Egyptian Wheat Buy
Egypt has raised purchases by almost 40% year-on-year in the first two months of its buying season
Leading global wheat buyer Egypt has raised purchases by almost 40% year-on-year in the first two months of its buying season, with its supply ministry still instructed to keep six months of strategic reserves in response to COVID-19, reports Reuters.
Between July and August, Egypt bought 2.4 million tonnes of wheat from international suppliers compared with 1.72 million tonnes purchased during the same period last year.
Egyptian President Abdel Fattah al-Sisi first instructed authorities to bolster strategic reserves in March as global food security concerns rose and supply chains experienced disruption when lockdowns were imposed to contain the pandemic.