Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s wheat imports for 2023/24 are expected to decrease and wheat stocks could drop to the lowest level seen in 20 years. Severe weakness in the Egyptian pound and a lack of foreign exchange are seen as the major factors for the drop in imports. Egypt’s food inflation annual rate is at 126 percent compared to 2020.  Egypt’s CY 2023 wheat imports were up by 14.5 percent to 11.0 MMT, 5 MMT of which was imported by GASC with the balance for the private sector. Eighty percent of the wheat imports originated in the Black Sea – Romania, Ukraine, and Russia. Egypt’s currency (the Egyptian pound) has fallen by 20 percent in Ja...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Middle East & Africa