Egypt to Increase Grain Imports, but Under Special Conditions

The Egyptian government, which is facing serious financial problems following the partial cessation of ship transit through the Suez Canal, has urged grain exporting countries to renegotiate terms of supply and offer Cairo “special” financial terms.

Egypt’s Minister of Supply Sherif Farouk said at a press conference, “Egypt, as the largest importer of grain in the world, wants preferential treatment in its imports, both in terms of payment and special prices.”

Egypt consumes about 20.6 million tons of grain per year, while domestic grain production does not exceed 9 million tons. According to official figures provided by Minister Farouk, Egypt’s grain imports hit a record high between January and mid-July this year, increasing by 34%, with imports by private companies exceeding the Egyptian government’s “centralized” imports.

Since the beginning of the year, Egypt has imported 7.5 million tons of grain, up 25% compared to 5.6 million tons imported during the same period in 2023. According to Farouk, “this year’s imports are 53% above the average of the last five years.”

Russia, Egypt’s traditional partner, is also strengthening cooperation with the Cairo government within the framework of the BRICS international group, which Egypt joined in early 2024. As Farouk emphasized, Russia “remained the main grain supplier for Egypt, exporting 5.8 million tons to the country, accounting for 77% of all Egyptian grain imports since the beginning of the year.”

Russia is the largest grain exporter in the world. In 2024, the grain harvest is estimated at 132 million tons.