{"id":546972,"date":"2022-06-05T04:07:45","date_gmt":"2022-06-05T04:07:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/food-for-fertilizer-swap-with-india\/"},"modified":"2022-06-05T04:07:45","modified_gmt":"2022-06-05T04:07:45","slug":"food-for-fertilizer-swap-with-india","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/food-for-fertilizer-swap-with-india\/","title":{"rendered":"Food-for-fertilizer swap with India?"},"content":{"rendered":"

<\/a> Egypt is in talks to export fertilizer and other products to India in exchange <\/strong>for the <\/strong>500k<\/a><\/strong>tons of Indian wheat<\/a><\/strong> we\u2019ve been hoping to secure, Supply Minister Ali El Moselhy told Bloomberg<\/a>. The minister discussed the potential arrangement with the Indian ambassador to Egypt last week, he told the business newswire on the sidelines of the Islamic Development Bank\u2019s annual meetings in Sharm El Sheikh.<\/p>\n

The 500k-ton purchase has been in question since last month<\/strong> when India moved to ban wheat exports to all but the most vulnerable countries in a bid to tame local inflation and protect supply following a weaker-than-expected harvest. Egypt has been in talks<\/a> with New Delhi to get an exemption from the restrictions, and Moselhy has insisted that the purchase will not be impacted despite the fact that Egypt had not inked contracts ahead of the ban.<\/p>\n

Fertilizer might sweeten the deal:<\/strong> India\u2019s agriculture sector is heavily reliant on fertilizer imports and has been searching for new suppliers<\/a> since Russia\u2019s invasion of Ukraine. Russia and Belarus supply all of the country\u2019s potash<\/a>, leaving it vulnerable to the effects of Western sanctions on Russia. As one of the largest exporters of nitrogen-based fertilizers, Egypt has been receiving attention in recent weeks from the likes of Brazil<\/a>, which has been facing a shortage<\/a> of the commodity for months.<\/p>\n

News of a longer-term pact comes as <\/strong>our first Indian wheat shipment landed yesterday: <\/strong>Egypt received its first wheat shipment from India, Ahmed El Attar, head of the Agriculture Ministry\u2019s quarantine authority, told Kelma Akhira\u2019s Lamis El Hadidi (watch, runtime: 6:55<\/a>). This is the same shipment that had already passed inspection<\/a> by officials sent out to India in May, El Attar said. Reports at the time suggested the purchase was in the 55k ton range.<\/p>\n

No loosening of quality standards for grain imports? <\/strong>Reports that Egypt has loosened any of its wheat quality rules<\/a> in a bid to diversify supply are \u201ccompletely untrue,\u201d Ahmed El Attar, head of Agriculture Ministry\u2019s quarantine authority, told Sky News Arabia<\/a>. Reuters had previously reported that Egypt would allow wheat imports with a moisture content of up to 14% \u2014 up from 13.5% \u2014 for a year due to supply restrictions in the global market.<\/p>\n

(Reminder: Ergot is a particularly touchy subject for the Agriculture Ministry<\/strong> \u2014 the saga<\/a> has been dragging on<\/a>for at least six years<\/a> and seems<\/a> to raise its head at least<\/a> once every 12 months<\/a>. The fungus grows on cereal grasses \u2014 particularly rye, but also wheat \u2014 and in the right dose can cause \u201cergotism,\u201d a particularly nasty constellation of symptoms<\/a> including gangrene of the hands and epilleptic-like convulsions and hallucinations.)<\/p>\n

Definitely not eating Turkey\u2019s leftovers:<\/strong> Authorities have declined a 55k shipment of Indian wheat that was offered to us after it was turned away from a Turkish port for high levels of ergot fungus, El Attar added. \u201cThe shipment will not be accepted until it\u2019s proven to be completely ergot-free,\u201d he said.<\/p>\n

MEANWHILE- We\u2019re still making progress on the local harvest:<\/strong> Egypt has procured around 3.5 mn tons of its 6mn-ton purchase target from local farmers since the start of the harvest season, a Supply Minister official told Reuters<\/a>yesterday.<\/p>\n

BACKGROUND- <\/strong>As the world\u2019s largest importer of wheat, Egypt is among the countries most affected by the grain shortage triggered by the Russia-Ukraine war. We usually source upwards of 80% of our wheat imports from the two countries and are facing at least an additional EGP 15 bn burden on this year\u2019s fiscal budget as a result of spiraling grain prices.<\/p>\n

BLACK SEA BREAKTHROUGH?<\/strong><\/p>\n

Some 20 mn tons of grain and seeds stuck in Ukraine could soon be unlocked <\/strong>under an agreement being negotiated by Turkey, Russia, Ukraine, and the UN to set up a safe corridor in the Black Sea, according to Reuters<\/a>. The plan would see the Turkish navy escort ships carrying grain out of Ukrainian ports and through the Black Sea, and a UN-run center set up in Istanbul to monitor the shipments.<\/p>\n

Look for the topic to make headlines later this week<\/strong> when Russian Foreign Minister Sergei Lavrov visits Turkey<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt is in talks to export fertilizer and other products to India in exchange for the 500ktons of Indian wheat we\u2019ve been hoping to secure, Supply Minister Ali El Moselhy told Bloomberg. The minister discussed the potential arrangement with the Indian ambassador to Egypt last week, he told the business newswire on the sidelines of […]<\/p>\n","protected":false},"author":1,"featured_media":546973,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7305],"tags":[317,72,99,564,1404,270,218,7085,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546972","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities","tag-commodities","tag-enterpriseam","tag-fertilizers","tag-food","tag-india","tag-russia","tag-turkey","tag-un","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"42fc30fa-9136-4971-a9b5-8844e2991226","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/6\/132.jpg","photo_position":"above","related_issue":[546966],"teaser":"","voice_url":""},"yoast_head":"\nFood-for-fertilizer swap with India? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/05\/food-for-fertilizer-swap-with-india\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Food-for-fertilizer swap with India?\" \/>\n<meta property=\"og:description\" content=\"Egypt is in talks to export fertilizer and other products to India in exchange for the 500ktons of Indian wheat we\u2019ve been hoping to secure, Supply Minister Ali El Moselhy told Bloomberg. 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"Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/631.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544895,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/27\/no-intl-wheat-tenders-before-mid-may-el-moselhy\/","url_meta":{"origin":546972,"position":2},"title":"No int\u2019l wheat tenders before mid-May, -El Moselhy","author":"enterpriseam admin","date":"27 March 2022","format":false,"excerpt":"Egypt won\u2019t be tapping the international wheat market with new tenders before the middle of May after having received all its backlogged orders of Russian wheat, Supply Minister Ali El Moselhy said Thursday, Bloomberg and Reuters report. The government is focusing for now on the local harvest, which begins at\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/358.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546418,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/egypt-to-receive-500k-tons-of-indian-wheat-despite-export-ban\/","url_meta":{"origin":546972,"position":3},"title":"Egypt to receive 500k tons of Indian wheat despite export ban","author":"enterpriseam admin","date":"16 May 2022","format":false,"excerpt":"FROM THE DEPT. OF GOOD NEWS- We\u2019ve locked in 500k tons of Indian wheat ahead of New Delhi's export ban: Egypt has agreed to buy 500k tons of wheat from India, Supply Minister Ali El Moselhy told Reuters yesterday, adding that an export ban introduced by New Delhi last week\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/189.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546692,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/were-getting-another-usd-3-bn-for-wheat-imports-from-the-itfc\/","url_meta":{"origin":546972,"position":4},"title":"We\u2019re getting another USD 3 bn for wheat imports from the ITFC","author":"enterpriseam admin","date":"25 May 2022","format":false,"excerpt":"We\u2019re getting an additional USD 3 bn from ITFC to help us through the commodities crunch: The International Islamic Trade Finance Corporation (ITFC) has raised the ceiling for its financing agreement with Egypt to USD 6 bn from USD 3 bn, Supply Minister Ali El Moselhy told Al Hekaya\u2019s Amr\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/333.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544982,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/30\/our-wheat-imports-could-hit-a-nine-year-low-because-of-russia-ukraine\/","url_meta":{"origin":546972,"position":5},"title":"Our wheat imports could hit a nine-year low because of Russia + Ukraine","author":"enterpriseam admin","date":"30 March 2022","format":false,"excerpt":"Egypt\u2019s wheat imports in marketing year (MY) 2022-2023 are expected to drop to their lowest in nine years as the Russia-Ukraine war cuts two of our biggest suppliers off from the export market, the US Foreign Agricultural Service (FAS) said in a report (pdf). Wheat imports are expected to drop\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/699.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546972","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546972"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546972\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546966"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/546973"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546972"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546972"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}