Egypt secures $500 mln wheat deal from UAE’s Al Dahra, ADEX

Egypt has signed a $500 million agreement with the UAE-based agribusiness firm Al Dahra and the Abu Dhabi Exports Office (ADEX) for wheat supplies, according to Reuters on Monday.

Starting from this year, Egypt will receive imported milling wheat “at competitive prices” under the five-year agreement, worth $100 million per annum. Al Dahra already provides the government with locally produced wheat supplies via its Egyptian subsidiary.