Egypt’s state grain buyer expects French wheat shipments to start Saturday

By Reuters

Egypt expects wheat shipments from France and other European countries in the coming days and weeks, the state grain buyer said, as it pushes ahead with efforts to bolster the country’s strategic reserves and diversify supply sources.

Among the world’s largest wheat importers, Egypt is adapting to mounting geopolitical risks and volatility in Black Sea supplies, particularly from Ukraine and Russia.

The state grain buyer is working on a deferred import schedule covering the period from July through the end of the year, as part of its strategy to ensure steady supplies and avoid spot market volatility, it told Reuters on Friday.

One ship is expected in the Western French port of La Pallice for loading on Saturday, and two more in late June and early July, the agency formally known as the Future of Egypt for Sustainable Development said, confirming some of the details in a Reuters report on Wednesday.

It did not confirm the size of the wheat cargoes. French port data showed on Wednesday that an Egypt-bound vessel will load about 60,000 metric tons on Saturday.

Despite initial setbacks, the agency has moved forward with direct deals, a shift from its earlier reliance on local intermediaries.

“Efforts are underway to expand our supplier network with new European sources that can handle large-capacity vessels,” the agency said, saying it was in advanced negotiations to secure hundreds of thousands of tons of wheat with suppliers from other EU origins. It did not name the countries.

It said all required import procedures, including export certifications and financial documentation, would be completed in time for the ships to load the French wheat.

The agency also confirmed that vegetable oil shipments from Europe and the Black Sea region continued to arrive regularly at Alexandria port. The purchases are part of a broader government effort to ensure food security.

Prime Minister Mostafa Madbouly said this week that Egypt’s reserves of strategic commodities, including wheat, cover more than six months of consumption.

Future of Egypt for Sustainable Development, which took over the country’s major commodity imports in December, has gradually been building direct ties with global suppliers, aiming to streamline procurement.

(Reporting by Mohamed Ezz; Editing by Emelia Sithole-Matarise)

This article has been republished from The Baird Maritime.