A restriction on wheat exports from India, declared by New Delhi on Saturday amid a sweltering heat wave that has reduced domestic production and increased local prices, does not apply to agreements made between governments, according to a previous statement by Moselhy.
One of the top wheat importers in the world, Egypt is searching for alternatives to the Black Sea grain supplies that are being disrupted by Russia's invasion of Ukraine. A deal that is a part of Egypt's efforts to diversify its wheat sources. Egypt has contracted to purchase 180,000 tonnes of wheat from India, down from the previous agreement Supply Minister Aly Moselhy announced on Sunday
Egypt's Primary wheat suppliers have been Russia and Ukraine. Egypt, which massively subsidizes bread for its 70 million citizens, has also seen an increase in import costs as a result of the Ukraine conflict.
Although a deal had not yet been finalized, Mr. Moselhy had stated in May that Egypt had agreed to purchase 500,000 tonnes of wheat from India.
Due to decreased domestic output, India restricted wheat exports in May but allowed exceptions for nations like Egypt that needed to ensure their food security. According to the supplier, the need for the wheat to be accessible was that it be at the ports, Mr. Moselhy said on Sunday.
It turns out [the supplier] has 180,000 tonnes in the port, despite our agreement for 500,000 tonnes, he said. Mr. Moselhy stated that Egypt was also negotiating a wheat purchase arrangement with Russian producers.
According to Mr. Moselhy, Egypt is also considering how to get more flour out of its grain by increasing the extraction rate for wheat used in subsidized bread to 87.5 percent from 82 percent.
For the fiscal year 2022–2023, it intends to purchase 5-5.5 million tonnes of wheat while saving about 500,000 tonnes, he added.
