Ukraine Tumult Deters Top Wheat Importer Egypt From Buying Grain
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Top wheat importer Egypt was forced to yet again ditch efforts to buy the grain it needs to subsidize bread for its people, highlighting the threat that the Russia-Ukraine war poses to the world’s food needs.
For the second time since Thursday, Egypt scrapped a tender to purchase wheat after drawing just a few offers -- at sharply higher prices -- as supply worries mount in the wake of Russia’s invasion of its neighbor. Egypt is among countries in the Middle East and North Africa that rely on massive imports to feed their citizens, and Black Sea nations are key suppliers.