Egypt in Talks with India on Wheat-for-Fertilizers Deal

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Friday - 3 June 2022

Egypt has started talks to import wheat from India in a deal that may include exporting products such as fertilizers in return.

Ali Al-Moselhi, Minister of Supply and Internal Trade said that he met with the Indian ambassador to Egypt in Cairo last Wednesday to discuss a possible exchange agreement to secure 500,000 tons of wheat through various shipments.

Global wheat supplies were hit as a result of the Russian invasion of Ukraine, as Russian forces closed seaports used to export wheat.

The government has entered into talks with the UAE, the United States and Western Europe in an effort to alleviate potential shortages.

The Minister of Supply expected a drop in the volume of government imports of wheat in 2022 to 5.3 million tons, “supported by the increase in production locally.”

Egypt’s government imports of wheat reached 5.5 million tons in 2021, compared to about 3.5 million tons locally from farmers.

Egypt is the largest importer of wheat in the world, and it imported about 12.9 million tons in 2020 for the government and the private sector at a value of $3.2 billion, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS).