Latest news with #grainimports
Zawya
25-06-2025
- Business
- Zawya
Egypt bought several hundred thousand tons of wheat for July/Aug delivery, sources say
Egypt's state grains buyer, one of the world's largest wheat importers, has purchased several hundred thousand metric tons of wheat in the past weeks for delivery in July and August, traders and sources told Reuters on Tuesday. The exact volume of the purchases was still unclear, but all sources referred to several hundred thousand tons. Egypt's wheat purchases had fallen sharply in the first half of this year after hefty shipments in the second half of 2024. One said the sale was for between 300,000 and 400,000 tons, another that a state-owned company was looking for 600,000 tons and a third that both state-owned and private buyers had sold a total of between 800,000 and 1 million tons. The sales would be of Russian, Ukrainian and Romanian origins, they said. Prices reported ranged from $250 to $258 per ton, cost and freight included. The state buyer told Reuters last week it was in advanced talks to secure hundreds of thousands of tons of wheat with suppliers from other EU origins, but had not named the countries. (Reporting by Sybille de La Hamaide and Gus Trompiz in Paris, Mohamed Ezz in Cairo, Sarah El Safty in Dubai, Olga Popova in Moscow, Michael Hogan in Hamburg and Pavel Polityuk in Kyiv; Editing by Jan Harvey)
Zawya
18-05-2025
- Business
- Zawya
Egyptian Swiss Group represents Egypt at GrainCom2025 in Geneva
El-Sebai: Dollar Liquidity Drove Surge in Grain Imports During 2024 Egyptian Swiss Group for Pasta, Milling, and Concentrates took part in the international GrainCom2025 conference held in Geneva, Switzerland, from May 13 to 15. The event is considered one of the world's largest gatherings for the grain and oilseeds sector, attracting a wide range of multinational companies, shipping and inspection bodies, and global commodity exchanges. Ahmed El-Sebai, Managing Director of Egyptian Swiss Group, confirmed that the company's participation was within the panel discussions representing the Egyptian market. The sessions shed light on Egypt's wheat market and the recent changes in import mechanisms, as well as the government entities responsible for regulating the process. Sharp Rise in Wheat Imports Egypt witnessed a significant increase in wheat imports in 2024, reaching 14.2 million tons, up from 10.8 million tons in 2023 — a 31% year-on-year jump. El-Sebai attributed the surge primarily to improved dollar availability and a drop in global wheat prices, which fell to $240 per ton in 2024, compared to over $350 per ton the year before. Over 33,000 Companies in the Grain Sector El-Sebai highlighted that the grain sector is one of Egypt's largest and most diversified industries, encompassing over 33,000 local companies. These operate across six core areas: pasta production, wheat milling (at both 72% and 82% extraction rates), rice milling, glucose and starch production, yeast and bread manufacturing, as well as grain packaging and animal feed production. Egypt remains one of the world's top wheat importers, annually sourcing up to 12 million tons for both public and private sector use. In the 2023–2024 season, the country ranked among the highest consumers of wheat globally, with more than 20 million tons — accounting for 2.6% of global consumption. Growing Imports of Corn and Soybeans El-Sebai also noted a sharp increase in imports of other key grains. Corn imports rose by 36% to reach 9 million tons in 2024, while soybean imports jumped by 76% to 3.7 million tons over the same period. International Partnerships and Growth Potential According to El-Sebai, Egypt possesses all the necessary components to become a regional hub for grain-related industries in the Middle East. He emphasized that the group's participation in GrainCom aimed to showcase these opportunities and expand global partnerships with international shipping companies, trading houses, and commodity exchanges. GrainCom 2025: A Strategic Global Platform GrainCom serves as a strategic annual platform for stakeholders in the grain and oilseeds industry. Organized by AgriCom Events, the conference convenes key decision-makers, public and private sector representatives, and experts in supply chains, food security, and agricultural finance. Focus Areas: Food Security, Technology, and Risk This year's edition addressed several key issues, including global food security challenges affecting more than 343 million people in 74 countries. Sessions also explored the role of modern agricultural technologies, such as remote sensing and precision nutrient distribution, alongside geopolitical shifts like the rise of the BRICS group and their implications for supply chains and global trade. Participation from Inspection Bodies and Global Exchanges The conference attracted prominent representatives from shipping companies, inspection authorities, and leading grain exchanges such as 'Euronext' and the 'Chicago Mercantile Exchange.' These institutions offered technical workshops on risk management tools and forecasting market volatility. A Forward-Looking Vision for the Industry GrainCom aims not only to address internal industry issues but also to engage with external stakeholders who play a critical role in shaping the future of the food and agriculture sectors through policies on financing, digitization, and global supply chain resilience. Established to Elevate Global Industry Dialogue AgriCom Events SA, the organizing company behind GrainCom, was founded in March 2020 in Geneva. It was created in response to industry demand for a specialized global platform for the grains and oilseeds sector, facilitating high-level dialogue and collaboration among key players. Egypt's Message to the Global Community Ahmed El-Sebai concluded by underscoring the importance of direct engagement with international partners, describing GrainCom as 'a golden opportunity to reinforce Egypt's presence on the global stage and demonstrate the market's readiness to attract strategic investments in the grain sector that can strengthen both local and regional food security.'
