Egypt intends to increase wheat purchases from Russia

Egypt, which is one of the major importers of wheat of Russia, intends to increase its purchases, Foreign Minister Sameh Shoukry said at a press conference in Moscow following talks with Russian Foreign Minister Sergei Lavrov.

“Wheat supplies are one of the key points in our relations, Russia is one of the key suppliers to the Egyptian market. Now we are satisfied with the level of cooperation achieved and we are not just focused on maintaining the current rate of supplies, but on further increasing them and expanding the range,” Shoukry said.

“We aim to continue working with our partners in this direction,” he added, saying that this issue was discussed in detail during the talks.

Asked about the prospects of using local currencies, particularly rubles, Shukri said trade ties between the two countries have a long history and “we have long been working on working out appropriate mechanisms that will allow us to use them (local currencies – IF) in our trade transactions in a spirit of greater sovereignty.” “This will facilitate trade transactions. We intend to increase the volume of transactions in these currencies. We’re just at the beginning stage now, we still have a series of consultations on this issue, but we’re focused on further work,” he said.

According to the Telegram channel of the Russian Union of Grain Exporters, during seven months of the current agricultural year (began July 1, 2022), Egypt contracted 5.06 million tons of wheat in Russia, of which 4.55 million tons have already been delivered. At the same time, for the entire last agricultural year, almost the same amount of wheat was exported to this country – 5.04 million tons.

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