Egypt’s new wheat-buying agency, Mostakbal Misr, has purchased around half a million tons of wheat from the Black Sea region for delivery in December and January, according to a report from Bloomberg.
The latest round of purchases includes about 200,000 tons from Russia, 150,000 tons from Bulgaria, and more than 130,000 tons from Ukraine, said the report.
Mostakbal Misr is also in talks to secure an additional 500,000 tons of wheat from a range of suppliers, with the aim of finalising agreements by early December.
The North African nation is the world’s largest wheat importer, and its buying activity is closely monitored as a key barometer of global demand and pricing trends. The US Department of Agriculture expects Egypt to import a record 13 million tons of wheat in the current marketing year.
The new purchases come amid a broader buying spree. Bloomberg reported last month that Egypt had already booked around 1 million tons of wheat from Black Sea exporters as well as France and Kazakhstan, with shipments expected to arrive through early December.
Mostakbal Misr, which assumed responsibility for government wheat imports late last year, has replaced the General Authority for Supply Commodities (GASC) as the state’s primary grain buyer.
According to a person familiar with the latest transactions, Egypt’s current wheat reserves are sufficient to meet domestic demand until the end of February.
The country has been diversifying its sourcing strategy to secure stable supply and competitive pricing amid ongoing volatility in global grain markets.
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