EGYPT – Egypt is set to broaden its wheat import sources, with negotiations underway to import from Zimbabwe, Mexico, and Sweden, a government official has disclosed.
These talks, initiated in late 2023, aim to certify these countries as wheat exporters to Egypt by 2025 and 2026, bolstering the nation’s diverse procurement strategy.
As the third-largest economy in the Arab world, Egypt heavily relies on wheat imports, meeting over 50 percent of its demand through foreign markets.
With an annual consumption of 18 million tons, the North African country frequently engages in international tenders to fulfill its wheat requirements, recently securing 420,000 tons through such a process.
While maintaining its status as a significant wheat importer, Egypt is actively pursuing strategies to boost domestic production of wheat and corn by 2025/2026.
The government aims for a substantial increase in both crops, anticipating a 53% rise in wheat production and a 56% surge in corn production during this period.
President Abdel Fattah El Sisi recently inaugurated the initial phase of Egypt’s ambitious agricultural development geared towards enhancing the nation’s food security and reducing dependency on imports.
Dubbed ‘the Future of Egypt project,’ the project is overseen by the state’s Future of Egypt Authority and aims to reclaim approximately 1.8 million hectares of land by 2030.
It encompasses modernizing irrigation systems, amplifying agricultural production, and fostering self-sufficiency in key commodities.
These include replacing imports of two million tonnes of wheat, 180,000 tonnes of corn, and 360,000 tonnes of sugar annually, thereby saving an estimated US$3.7 billion in foreign currency.
Furthermore, Egypt seeks to boost agricultural exports by 20 to 25 percent over the next five years, aligning with its broader economic goals.
In line with these efforts, 24 grain silos with a collective storage capacity exceeding 100,000 tonnes have been erected by China’s Famsun Group, poised to support Egypt’s agricultural endeavors starting this harvest season.
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