Egypt's Wheat Reserves Secure for Nearly Six Months Amid Rising Imports

Egypt's strategic wheat reserves are currently sufficient to meet the country's needs for nearly six months, according to Minister of Supply and Internal Trade Sherif Farouk. Speaking at the Cairo Chamber of Commerce, Farouk confirmed that the reserves will last for approximately 5.9 months, reflecting Egypt's proactive measures to secure its staple food supplies amidst global market fluctuations.

During the 2024 wheat supply season, Egypt successfully collected 3.5 million tons of wheat, bolstering its strategic reserves. This domestic collection is a critical component of Egypt's food security strategy, particularly as the country continues to navigate the challenges posed by rising global food prices and supply chain disruptions.

In addition to domestic production, Egypt's wheat imports saw a significant increase in 2023, rising by over 14.5% compared to the previous year. The country imported 11 million tons of wheat in 2023, up from 9.6 million tons in 2022. This surge in imports underscores Egypt's dependence on international markets to supplement its domestic wheat production, a necessity driven by the country’s large population and the increasing demand for staple foods.

To further secure its wheat supply, the General Authority for Supply Commodities (GASC) signed contracts in June 2023 to import 470,000 tons of wheat from various sources, including Russia, Bulgaria, Romania, and Ukraine, through an international tender. These diversified sources of wheat are part of Egypt’s broader strategy to ensure a stable and sufficient food supply, particularly in light of global economic uncertainties.

Beyond wheat, Minister Farouk also highlighted the status of Egypt's reserves for other essential commodities. The strategic reserve of oils is currently sufficient for 6.4 months, subsidized sugar for 16.3 months, fresh meat for 7.8 months, and frozen poultry for 10.4 months. These reserves are crucial for maintaining price stability and ensuring the availability of essential goods across the country.