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Hisham Suleiman: Black Sea Tensions Hinder Wheat Supply Fix
The article explains that the global wheat supply crisis continues due to escalation in the Black Sea region, where Ukraine relies on exports via the Danube River and Bulgaria, and Russia depends on Baltic ports and Moldova. Exports have declined by between 46% and 59%. This escalation intensifies the crisis, which is unlikely to ease until the end of the year, leading to a projected shortage in global supply. In Egypt, although wheat imports have increased slightly, the government is required to incentivize farmers by setting a favorable purchase price to ensure future supplies, especially given the ongoing global crisis and its impact on wheat prices and markets.
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