Egypt’s wheat purchases from the UAE Al Dahra deal are expected to take place starting January, said Egyptian Minister of Supply and Internal Trade Ali Moselhy on Sunday.
The deal to buy wheat from UAE-based agribusiness Al Dahra, which was announced earlier in August, is currently awaiting parliamentary approval, the minister told reporters on Sunday, adding he expects that to be in November.
The UAE’s Al Dahra Agriculture will be enabled to offer imported wheat to Egypt by participating in the international tenders the government routinely holds, Moselhy noted, saying payment for those imports would be through the funding the Gulf nation has made available.
The Egyptian minister also said wheat stocks are enough to cover 4.7 months of local consumption, while vegetable oil stocks are sufficient for 3.9 months and sugar stocks are enough until April.
