Russia-Ukraine War Puts Indian Wheat in Spotlight


Egypt is reeling from a surge in bread and flour prices after Russia’s invasion of Ukraine closed off access to lower-priced Black Sea wheat

 

A delegation from Egypt will visit India next week to facilitate wheat imports as part of efforts to secure supplies and tide over shortages at one of the world’s biggest importers of the staple, Indian government sources said.

Egypt, often the world’s biggest wheat importer, is reeling from a surge in bread and flour prices after Russia’s invasion of Ukraine closed off access to lower-priced Black Sea wheat.

India, the world’s second biggest wheat producer, has emerged as a leading supplier of the grain to a host of countries that are struggling with cargo disruptions and sky-high grain prices in the wake of the crisis.

Although Egypt has been a traditional buyer of Russian and Ukrainian wheat, India is willing to help Cairo by supplying the grain, said the sources, who didn’t wish to be identified in line with official rules.

Egypt could buy up to 12 million tonnes of Indian wheat, they said.

The Egyptian delegation would meet potential Indian buyers, examine logistical and other issues and assess various grades and quality of Indian wheat, the sources said. “India is in a position to supply top quality wheat to Egypt,” one of the sources said.

On Tuesday, Piyush Goyal, India’s commerce minister, who oversees food distribution, said he met Hala Elsaid, Egypt’s planning minister, in Dubai to discuss wheat exports.

Egypt’s prime minister, Moustafa Madbouly, said Cairo was counting on France to secure some supplies of basic commodities like wheat.

On March 24, Egyptian supply minister Ali Moselhy said Egypt is in talks with Argentina, India, France and the US for future wheat imports but is in no rush to buy at the moment.

He said Indian suppliers would still have to seek accreditation from the state buyer, the General Authority for Supply Commodities.

Earlier this month Egypt set a fixed price for unsubsidised bread to battle a sharp rise in bread prices, which jumped 25% to 1.25 Egyptian pounds ($0.07) per loaf in some bakeries.

 

  • Reuters, with additional editing by George Russell

 

READ MORE:

Poor Urged to Shift From Wheat-Based Diet – Fiji Times

China To Boost Winter Wheat Crop Management

Chinese Minister Warns of ‘Worst’ Wheat Crop in History

 

 

 

George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.