At the end of last year, 240,000 tons of wheat were purchased. But it never arrived in Egypt.
Contracts on the purchase of 240,000 tonnes of wheat from Ukraine, which was purchased at the end of 2021, have been terminated by Egypt. This was reported by Reuters news agency.
The General Authority for the Supply of Goods (GASC) terminated its contractual obligations with Inerco and Nibulon, although there is no force majeure clause in the contracts.
According to media reports, the Egyptian authorities had purchased grain last December at a cost of $346 to $360 per ton. Due to the conflict in Ukraine, the goods never made it to Egypt.
Egypt is the largest importer of wheat. The country buys up to 13 million tons of wheat from abroad every year, which is only half of the state's needs. The other is provided by domestic production. The main exporters of wheat to Egypt are Russia and Ukraine. The military special operation in Ukraine and anti-Russian sanctions have disrupted the main grain supply chains.