06 April 2022; MEMO: Egyptian President Abdel Fattah Al-Sisi yesterday announced that his country's wheat stock for domestic consumption was "sufficient for the next four months."
"Egypt's total wheat trade amounts to 18 million tonnes annually on average," Al-Sisi told reporters, adding that around two million tonnes are being "lost annually as a result of storage-related reasons."
Egypt is the largest wheat importer in the world, with an annual average of 13.8 million tonnes in imports, mostly from Russia and Ukraine.
Since the start of the Russian war on Ukraine, Egyptians have been concerned over the negative impact of the war on the local wheat supply.
Egyptian Prime Minister, Mostafa Madbouly, said on Monday that the North African country's wheat stock for domestic consumption was "sufficient for 2.6 months only."
On the recent increase in global oil prices, Al-Sisi said that he was hoping for the crisis to end "soon."
Egypt is an oil importer, but self-sufficient in natural gas, according to official data.
