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Fed with Ukrainian wheat, Egypt shaken by inflation

2022-03-22T20:40:25.607Z


The pound has been devalued by more than 15%, which will make imported goods more expensive. 2000 km south of the port of Odessa, Cairo suffered the brunt of the economic consequences of the war in Ukraine. Egypt, with a population of some 100 million whose staple foods are bread and couscous, is the world's largest importer of wheat. Last year, more than 70% of its purchases of this cereal came from Russia (45%) and Ukraine (more than 25%) according to the FAO, the United Nations agency


2000 km south of the port of Odessa, Cairo suffered the brunt of the economic consequences of the war in Ukraine.

Egypt, with a population of some 100 million whose staple foods are bread and couscous, is the world's largest importer of wheat.

Last year, more than 70% of its purchases of this cereal came from Russia (45%) and Ukraine (more than 25%) according to the FAO, the United Nations agency for agriculture and l 'food.

The war, which risks amputating Ukrainian agricultural production and paralyzing its exports, has accelerated the rise in the prices of agricultural raw materials, already started in 2021 with the post-Covid economic recovery.

The inflation figure for the month of February, recently released, climbed to 8.8%.

This is the highest level for three years.

Above all, this index masks a jump of 17.5% in food prices alone, which account for almost half (44%) of the household basket, specifies Olivier…

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Source: lefigaro

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