PHOTO
Container trucks stand in line on the road due to bad weather in the Mediterranean city of Alexandria, March 30, 2019. REUTERS/Amr Abdallah Dalsh
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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