High Inflation, Dollar Shortage Forces Egypt To Raise Ration Prices.

1. Egypt Considers Importing Wheat In Rupees, Yuan From India And China. Egypt is one of the largest importers of wheat globally and according to Ali Moselhy, the minister of supply and internal trade, Egypt is considering using the Indian Rupee and the Chinese Yuan when importing wheat from India and China, Asharq Business reported on April 29. Current Scenario Moselhy also stated in a press conference held at the ministry headquarters that the North African country is currently in negotiations with China and India and also commercial and central banks in regards to the decision but no official agreement has yet been reached. The strategic reserve of basic commodities is safe and sufficient for several months, according to Ali al-Moselhi, with wheat reserves expected to last approximately 2.6 months through July 5. Wheat in Egypt Moselhi said during a press conference on the 29th of April that import operations would carry on concurrently with the supply of local Wheat Sellers. According to the minister, since the beginning of the current harvest season,365,000 tons of wheat have been purchased from farmers. Additionally, Moselhy mentioned that Egypt plans to import roughly 5 million tons of wheat in the current year. Wheat now costs EGP 1,500 per ardeb of 23.5 carats thanks to a further incentive that the Egyptian cabinet approved on April 12 to encourage farmers to supply wheat for the 2023 season. In

2. comparison to the same period last year, supply rates have been higher so far this year, reaching about 365,740 tons as opposed to roughly 140,000 tons. The total area planted with wheat during the current year, according to Moselhi, was 3.2 million acres, with an average yield of 18 Irdabb per acre, or roughly 2.7 tons. If you are a wheat importer wishing to buy wheat in bulk or a wheat exporter willing to export bulk wheat, then Tradologie.com is the right platform for you. Tradologie is a global digital trade hub that facilitates bulk agro-commodities trade in a transparent manner. Through Tradologie’s AI-based platform, buyers and sellers can connect directly with each other in real-time, and negotiate prices to get the best deals, without the involvement of any middlemen. Hence, ensuring the best rates for both buyers and sellers on the platform, with an overall major reduction in the cost of trade by close to 10% . To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.