Egypt’s Prime Minister Mostafa Madbouly stated that the country has enough wheat reserves to last for more than 5.5 months. This announcement comes amid rising regional tensions, prompting the government to take precautionary measures.
Key points include:
Egypt is known as one of the world’s largest wheat importers and is currently looking to secure more than 3 million tons of wheat as part of a worst-case scenario plan.
The state grains buyer, GASC, has reportedly secured one of its largest direct wheat deals, totaling up to 3.12 million tons for monthly supplies from November to April.
Madbouly emphasized the importance of building reserves in light of escalating conflicts, particularly between Israel and Hezbollah, and concerns regarding potential Israeli actions against Iran.
The government is proactively managing its wheat needs to ensure food security amid these uncertainties.