Egypt's wheat imports hit $3.36B in 9 months
Updated 11/28/2024 9:52:00 AM
Arab Finance: Egypt's wheat imports have increased by 17% in the first nine months of 2024, reaching a total of $3.36 billion, compared to $2.86 billion during the same period last year, according to a government document reviewed by Al Arabiya Business.
The document also highlighted a 22% decline in wheat imports bill in September 2024, dropping to $343 million from $441 million in the same month last year.
The increase in the overall import value is attributed to higher import quantities from both the public and private sectors, with a significant rise in volumes due to a general decline in global wheat prices.
During the first nine months of 2024, Egypt imported approximately 10.94 million tons of wheat, marking a 42% rise from the 7.7 million tons imported during the same period in 2023.
The General Authority for Supply Commodities (GASC) was responsible for importing about 5.5 million tons, representing more than half of Egypt’s total wheat imports, with the remainder handled by private sector companies.
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