Egypt announces the country is to diversify its sources of wheat

Egypt's Prime Minister announced the country is to diversify its sources of wheat to avoid relying on what he described as "specific sources" for this product.

The minister added that the country would be using its strategic reserves until the end of 2022.

The announcement followed a ban on the export of wheat and other food staples announced by Ukraine.

"I assure all Egyptians that we won't have any crisis at all or be compelled to buy from the international market until the end of this year. I am talking about the citizens' basic needs concerning the bread loaf, we as the Egyptian state won't be pressured at all to buy any shipments under the current price surges as we will have a stock that will cover our needs until the end of 2022", said the Egyptian prime minister Mustafa Madbouly.

Egypt relies on Russia and Ukraine for the supply of wheat that is turned into bread, noodles and animal feed.

"It is true that Russia and Ukraine were our main source of wheat but we have already started to diversify our sources of wheat for imports in future deals, and that is already applied. We already buy (wheat) from various other countries. So we are always securing the diversity of our wheat sources so that they are not limited to specific countries", promised the prime minister.

Millions in Egypt rely on subsidized bread made with Ukrainian wheat.

Sharp spikes in the cost of wheat could severely affect Egypt's ability to keep bread prices at their current subsidised level.