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Egypt: how the Ukrainian war is a threat to Egypt’s stability? Can India be a ransom?

Wheat is a crucial element for Egypt; it represents between 35% and 39% of the caloric intake per capita in the last years, while the importations are usually around 62% of the total consumption of wheat in the country. Most of the importations of cereals are coming from Russia and Ukraine, between the 57% and the 60%, so it’s easy to understand the disastrous effects that a war that includes these two countries can represent on the north African nation.

Egypt is the biggest wheat importer globally, and according to OEC, in 2020, he has imported $5.2B in Wheat. Importing is always more necessary since Egypt’s population is 105 million, and it has a growth tax of 1.9% per year. The commercial regime is regulated by government agencies that started feeling the war impact.

Anyhow, Supply Minister Ali Moselhy told Reuters that Egypt is not worried since it has strategic wheat reserves sufficient to cover the country’s consumption for five months.

The Egyptian ambassador to Delhi, Wael Hamed, confirms that India’s hand could be helpful in Egypt, being one of the largest producers and willing to go into export the wheat market. “Egypt being one of the largest importers, definitely is very interested in building relations with India,” says the ambassador.

Nevertheless, the spokesman argues that since Egypt imports 12 or 13 million tons of wheat every year, the possibility that India will provide and export that amount of grain is low. Still, it remains a chance and not a matter of face. Egyptian experts only visited India to understand how much the Indian wheat could be profitable and advantageous for Egyptians.  

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Tags: #India #Reuters #Egypt #wheatmarket


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