Fresh price rise of Russian wheat to have limited impact on Egypt: FEDCOC

CAIRO - 30 April 2022: Alaa Ezz, the Secretary-General of the Federation of Egyptian Chambers of Commerce (FEDCOC), said Russia’s recent decision to impose additional fees on wheat exports will have a limited impact on Egypt.

Speaking to Sada El Balad TV channel, he reiterated that Russia and Ukraine constitute one-third of wheat exports worldwide, but Egypt has taken several steps to overcome the repercussions of the current crisis.

Egypt imported large quantities of wheat from France, while it received some 55,000 tons of Indian wheat on Saturday.

Egypt is set to get 50 percent of the required quantity of wheat from the local markets this year as the government has strategic plans to provide basic foodstuff commodities, whether wheat or cooking oil, he added.