Egypt prepares wheat import options amid Russia-Ukraine conflict

Egypt has enough wheat reserve for more than four months and there are options to secure wheat imports if the Russian-Ukrainian conflict worsened, Prime Minister Mostafa Madbouly said on Thursday.

In a worst-case scenario, the Egyptian government will diversify wheat imports from many countries, which is currently happening, Madbouly said according to a Cabinet statement.

The Egyptian prime minister in a Cabinet meeting highlighted the impact of the ongoing conflict between Russia and Ukraine on prices of several commodities across the globe.

The Egyptian government has been studying such impact, especially on wheat prices, since the beginning of the conflict, he added.

Since early February, tensions deepened between Russia and Ukraine, the two largest suppliers of wheat to Egypt, and the situation became more complicated after Russia recognised separatist regions in Ukrain as independent countries earlier this week and launched an invasion of Ukraine early Thursday.