Egypt agrees with UAE on long-term wheat purchases
Egypt signed a five-year, $500 million wheat supply financing agreement with UAE-based Al Dahra, backed by the Abu Dhabi Exports Office. The programme will provide GASC with $100 million annually to finance wheat purchases, helping secure stable supplies, strengthen strategic stocks and support Egypt’s subsidised bread programme.
Egypt has signed a contract with UAE-based Al Dahra for imported wheat supplies under a five-year financing programme worth a total of $500 mln. The agreement is aimed at securing stable long-term supplies of the strategic commodity.
Financing will be provided by the Abu Dhabi Exports Office. The programme will allocate around $100 mln annually to Egypt’s General Authority for Supply Commodities (GASC) to finance wheat purchases from Al Dahra.
Egypt’s Ministry of Supply and Internal Trade said the agreement is intended to strengthen the country’s ability to secure adequate wheat stocks and maintain stable grain supplies to the domestic market.
The five-year programme effectively creates a long-term financing mechanism for part of Egypt’s wheat imports, reducing reliance solely on short-term procurement. Annual purchases from Al Dahra will be financed within the allocated $100 mln.
Egypt remains one of the world’s largest wheat importers, with a significant share of supplies used to produce subsidised bread. GASC is one of the country’s key state agencies responsible for purchasing wheat and other strategic food commodities.
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Source : Ukr Agro Consult
