Egypt’s wheat imports up 40% YoY in 8 months

Egypt’s wheat imports surged 40% year on year (YoY) in the first eight months of 2024, registering 10.1 million tons, Asharq Business reported.

In 2023, the country’s total imports of wheat amounted to 10.87 million tons.

The global decline in wheat prices prompted Egypt to boost imports to hedge against price increases, traders said.

It is worth noting that Egypt's strategic wheat reserves reached a supply of 6.1 months.

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