Egypt’s wheat imports rise by 28.3% in H1 2024
Egypt’s wheat imports surged by 28.3% in the first half of 2024, reaching 6.8 million tons compared to 5.3 million tons in H1 2023, revealed an unnamed government official to Asharq Business. The increase is linked to rising local consumption driven by an influx of refugees. A trader attributed the growth in wheat imports to increased availability of USD in banks over the last three months.
Arab Finance: Egypt increased its wheat imports by 28.3% in the first half (H1) of 2024, an unnamed government official told Asharq Business.
Wheat imports hit 6.8 million tons during the first six months of this year, up from 5.3 million tons in the same period in 2023, the source noted.
This rise is attributed to the increased number of refugees in the country recently, pushing up the local consumption of wheat, a trader said, adding that wheat imports mainly grew due to the availability of the USD in banks over the past three months.
Source Link : https://www.zawya.com/en/markets/commodities/egypts-wheat-imports-rise-by-283-in-h1-2024-uzx6pjkd
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