The U.S. Department of Agriculture’s Foreign Agricultural Service (FAS USDA) anticipates that Egypt’s wheat imports will surge to 11.2 million tons in the upcoming season. This reflects a 2% increase compared to the current season, slated to conclude in June.
Rising demand for imported wheat is attributed to population growth and the accumulation of foreign currency in Egyptian banks. The Government of Egypt (GOE) aims for market stabilization and a reduction in inflation, capitalizing on enhanced access to foreign currency, increased interest rates, and decreased inflation rates.
USDA FAS projects Egypt’s gross wheat harvest for the 2024/2025 season to elevate to 9.0 million tons, up from 8.87 million tons in the ongoing season.
Responding to elevated prices, there’s an anticipated expansion in planted areas for corn cultivation. USDA’s FAS forecasts corn production to reach 7.6 million tons, up from 7.2 million tons, with imports estimated at 7.7 million tons, compared to 7.5 million tons previously.
Conversely, rice acreage and yield are expected to decline to 0.6 million hectares and 3.6 million tons, respectively, down from 0.63 million hectares and 3.78 million tons.
