RIYADH: Egypt is in discussions to import wheat from India in a deal that may include the export of products such as fertilizers in return, Bloomberg reported citing Egypt’s Supply Minister, Aly El-Moselhy.
According to the report, Moselhy met with the Indian ambassador to Egypt in Cairo on Wednesday to discuss the potential swap agreement to secure 500,000 tons of wheat, through various shipments.
The Indian government banned wheat exports in May to fortify the nation’s food security but has since eased restrictions to allow suppliers to fulfill their contracts.
The ban however remains a challenge to securing more supplies.
The Egyptian government has also engaged in talks with the UAE, the US and western Europe in a bid to ease potential shortages.
Egypt is one of the world’s largest wheat importers, and the ongoing clashes between Ukraine and Russia have negatively impacted the wheat supply to the country.