France will ensure that Egypt must get the wheat it requires in the coming months as the Russia’s invasion of Ukraine has created supply risks for grain importing nations, Finance Minister of France Bruno Le Maire mentioned on Monday.
Egypt, which is among the biggest wheat importers around the globe, is heavily dependent on shipments from Ukraine & Russia, and its government has been looking for alternative supplies from nations including France and India.
During an official visit to Cairo, Le Maire said, “We will stand by Egypt to make sure it gets the wheat that it requires in the coming months.”
In a separate statement released on Monday, Prime Minister of Egypt, Moustafa Madbouly, said, “The nation is showing confidence on France to secure supplies of basic commodities like wheat.”
The government of France has joined international institutions in alerting of a possible food crisis in developing nations in the year ahead if the Ukraine conflict drags on & causes lasting disruption to crop production & exports.
France, which is among the European Union’s biggest exporters of wheat, is an occasional supplier to Egypt. It has faced tight competition from the Black Sea region that offers wheat which is cheaper & better suited to Egypt’s milling standards.
Le Maire further stated, “a quality issue about wheat moisture had been resolved, and France and Egypt will hold negotiations regarding pricing, with shipping costs a vital factor.
Earlier this month, Egypt made an announcement that it would extend for a year a maximum moisture level in wheat to 13.5% to help diversify its supply sources.
French wheat considers to have more moisture as compared to Black Sea origins like Russia and Ukrainian wheat.