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Egyptians worry about bread cost
Egypt faces concerns over the impact of global wheat supply disruptions due to tensions between Russia and Ukraine, which have led to rising wheat prices on international markets—particularly on the Chicago Board of Trade, where prices have reached their highest level in three years, increasing by 19% this month. Egypt heavily relies on imports from both countries, having imported over 82% of its needs during the first half of the year. This dependency could lead to higher bread prices in the future, especially amid dwindling strategic stockpiles and rising transportation costs. However, the Egyptian government assures that it has a strategic reserve sufficient for several months and is working on increasing domestic production, which reduces the likelihood of an imminent shortage or a sharp spike in bread prices.
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