Egypt begins to save: the export of flour, pasta and legumes is banned
The Egyptian government has imposed a ban on the export of staple foods, including wheat, flour, pasta, beans and lentils.
This decision was made against the backdrop of a desire to preserve food supplies in the conditions of the Russian-Ukrainian war, writes ZAWYA.
The ban comes into effect on March 11 and is expected to last three months, according to a government statement.
As noted, 60% of Egypt's wheat imports are provided by Ukraine and Russia. These supplies are mainly used to provide subsidized bread to more than 70 million Egyptians.
From the very beginning of the war, the Egyptian government assured the public that the country's wheat reserves would last four months. However, concerns about skyrocketing wheat prices around the world continue to grow as the conflict continues. Wheat traded in Chicago jumped more than 50% last week to $13.40 a bushel. Meanwhile, European wheat in Paris broke another record - €406 per ton.
Earlier, Egypt's General Directorate for the Supply of Goods (GASC), the state purchaser of grain, had to cancel two tenders for wheat due to price fluctuations. Meanwhile, the country is trying to refocus on wheat from Romania. In order to diversify imports, the Department of Commerce has also eased restrictions on the quality of imported wheat.
The price of unsubsidized bread in Egypt has already risen, putting additional pressure on consumers who are already struggling with rising inflation rates.