French Wheat Exports to Egypt Seen in Question on Financing Need

Potential French wheat exports to Egypt, the world’s largest importer of the grain, are in question because the North African country requires financing of purchases, according to crop office France Agrimer.

“If the Russians agree to finance, then they will get the wheat orders,” Remi Haquin, the president of France AgriMer’s cereal council, told reporters today at a meeting in Montreuil-sous-Bois, France. “Russia and the U.S. have financing.”

Egypt will curb wheat imports by 31 percent to 8 million metric tons in 2012-13, still enough to make it the world’s biggest buyer, the U.S. Department of Agriculture estimates.

Bloomberg