Egypt to ban exports of wheat and other staple foods to safe reserves

Egypt will ban the export of key staples, including wheat, flour, and lentils, a move aimed at safeguarding the country’s food reserves amid the fallout from Russia’s invasion of Ukraine.

The ban, which also covers pasta and fava beans, will be effective for three months from the day after it is published in the national Gazette, the country’s trade ministry announced in a statement.

Egypt imports most of its wheat from the world’s biggest grain supplier Russia and Ukraine, using those supplies as the cornerstone of a bread-subsidy programme for millions of people. Soaring prices of grain as the war roils international markets is putting pressure on the finances of the Egyptian government, which seeks to guard against profiteering.

Egypt’s move joins a wave of food protectionism worldwide, risking further tumult for global crop trade. Moldova, Serbia, and Hungary have also banned exports of some grains.

Indonesia, the world’s biggest edible-oils exporter, decided to tighten controls over shipments. Turkey, top flour exporter, boosted the agriculture ministry’s authority over an array of products, allowing it to make “periodical arrangements” if needed.

Egypt’s government is raising its target for purchases of local wheat up to 5.5 million tonnes, however, people still need to “rationalise” their consumption, Egyptian Prime Minister Mostafa Madbouly said in a statement on Wednesday.

The ongoing Russia-Ukraine war has pushed up wheat-flour prices by 19 percent and vegetable oils by 10 percent, Madbouly added. Consumer inflation had in turn accelerated to an annual 8.8 percent in February, driven by higher food prices.

Russia has signalled it plans to restrict trade in some raw materials. Yet, it has yet to specify which goods or countries will be affected. Russian prime minister has on Wednesday urged the country to prioritise its own wheat supplies in order to secure bread for citizens