Egypt to have eight months of wheat reserves, says minister
The Russian invasion of Ukraine is threatening wheat supplies across the Middle East.
Egypt’s finance minister said today that the country will soon have eight months of wheat reserves as the fallout from the Russian invasion of Ukraine continues.
Mohamed Maait said Egypt will have enough wheat reserves to meet domestic demand for eight months after the upcoming local harvest is complete in April and May, the state-owned Al-Ahram reported.
Why it matters: Egypt is one of the biggest wheat consumers in the world, and the majority of its imports come from Russia and Ukraine. The ongoing war in Ukraine has forced the country to scramble to ensure it will have enough wheat. Egyptian farmers are planning to plant millions more acres of wheat in response, Mohammad Hanafi reported for Al-Monitor last week. Egyptian authorities are also considering imports from other countries.
The Russian invasion has affected other Middle Eastern countries’ wheat supplies as well. Wheat supplies in Gaza, which largely come from Ukraine, are fast decreasing. Many Lebanese also fear they will soon face a wheat crisis, as Lebanon also imports wheat from Ukraine.
