"We are disappointed": Egypt criticizes russia for withdrawing from grain deal

Egyptian authorities on Thursday criticized russia for its withdrawal from the Black Sea Grain Initiative and said it would continue to buy wheat from Ukraine.

"We are unhappy with russia's withdrawal from the UN agreement on grain exports," said Ali El-Moselhy, Minister of Supply and Internal Trade, as quoted by Bloomberg.

He called on moscow to reconsider its position.

The war in Ukraine has seriously complicated the situation on the food market in Egypt, which is the world's largest importer of wheat. The country consumes almost 25 million tons of wheat per year, while the domestic market produces about 12 million tons.

The country purchased most of its imported wheat from russia and Ukraine. Ukraine accounted for 20% of imports. This wheat is used to produce half of the flour used in the government-subsidized bread program. The program has been in place since the 1940s and now provides 72 million Egyptians with cheap bread every day, said Jessica Barnes, an associate professor of geography at the University of South Carolina.

Egypt resumed purchases from Ukraine at the end of 2022 thanks to a grain deal signed last summer.

According to El-Moselhi, Egypt intends to continue importing Ukrainian wheat through Europe. The government is negotiating with the UAE to raise $400 to finance its purchases.

Background. Earlier this week, wheat prices jumped after russia threatened to attack ships heading to Ukrainian ports.

Starting July 21, Ukraine will introduce a mirror warning for ships sailing in the Black Sea to russian and occupied ports.