Egypt's state grain buyer diversifies wheat sources amid geopolitical risk
CAIRO - Egypt's state grain buying agency, Mostakbal Misr, has secured major wheat contracts with strategic partners in France and Romania as part of a broader push to diversify supply and stabilise imports amid global uncertainty, it told Reuters on Wednesday.
The agency said it has overcome its dependence on traditional sourcing regions and now holds a dominant position in global supply routes, including South America and Australia.
Egypt, among the world's top wheat importers, is adapting to mounting geopolitical risks and volatility in Black Sea supplies, particularly from Ukraine and Russia.
One key element of the agency's strategy is deferred purchasing, which it says allows it to anticipate market movements and secure cargoes at optimal prices while maintaining supply stability.
In May, Egypt received significant volumes of premium wheat and vegetable oils from multiple global sources with the agency describing Egypt's current supply chains as "strong, continuous, and expanding."
(Reporting by Mohamed Ezz Editing by Alexandra Hudson)
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