{"id":603211,"date":"2023-08-15T00:00:00","date_gmt":"2023-08-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/15\/egypt-signs-usd-500-mn-financing-agreement-to-purchase-wheat-from-uaes-al-dahra\/"},"modified":"2023-08-15T00:00:00","modified_gmt":"2023-08-15T00:00:00","slug":"egypt-signs-usd-500-mn-financing-agreement-to-purchase-wheat-from-uaes-al-dahra","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/15\/egypt-signs-usd-500-mn-financing-agreement-to-purchase-wheat-from-uaes-al-dahra\/","title":{"rendered":"Egypt signs USD 500 mn financing agreement to purchase wheat from UAE\u2019s Al Dahra"},"content":{"rendered":"

The UAE is supplying us with wheat: <\/strong> Egypt has signed a USD 500 mn agreement to purchase wheat from Emirati agribusiness Al Dahra, Dahra said in a statement<\/a> (pdf)<\/a> yesterday. The pact will see Egypt import USD 100 mn of milling wheat a year over a five-year period, with the Abu Dhabi Exports Office (ADEX) providing the financing. \u201cThe low-cost financing package from ADEX helps us procure high quality wheat at the lowest cost financing available, with comfortable payment terms,\u201d Supply Minister Ali El Moselhy said. ADEX is the export finance arm of the Abu Dhabi Fund for Development.<\/p>\n

This is more than we expected: <\/strong> Moselhy told Bloomberg last month<\/a> that negotiations were under way to obtain USD 400 mn in financing to fund wheat purchases.<\/p>\n

Remember: <\/strong> Egypt, the world\u2019s largest wheat importer, has received support from international lenders to fund imports since the conflict in Ukraine upended global food markets and triggered an FX crunch at home. The World Bank<\/a> and the International Islamic Trade Finance Corporation<\/a>(IFTC) have together provided bns of USD in loans for wheat imports amid higher wheat prices and difficulties making payment<\/a> due to the FX crunch.<\/p>\n

The current stockpile: <\/strong> The country currently has enough wheat in reserve to last 4.7 months, the minister said<\/a> yesterday.<\/p>\n

SOUND SMART- Al Dahra today farms some 28k hectares in Egypt <\/strong>with a focus on staple crops. It is the largest private-sector producer of wheat and corn in Egypt and also grows onions, sugar beet, sesame, citrus, sorghum, and forage for livestock. Some 85% of its output, the company says, is sold in Egypt.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Abu Dhabi Exports Office is providing low-cost financing<\/p>\n","protected":false},"author":1,"featured_media":603212,"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":[8255,8905,779,317,6680,72,564,7091,777,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-603211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities","tag-abu-dhabi-fund-for-development","tag-al-dahra","tag-ali-el-moselhy","tag-commodities","tag-egypt-uae-relations","tag-enterpriseam","tag-food","tag-food-prices","tag-supply-ministry","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"fc058119-57bb-462d-94ea-26a53bddad6f","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/728.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt signs USD 500 mn financing agreement to purchase wheat from UAE\u2019s Al Dahra","related_issue":[603206],"teaser":"The Abu Dhabi Exports Office is providing low-cost financing","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.fde27133-7014-4ae6-85e9-b1f13409e676.mp3"},"yoast_head":"\nEgypt signs USD 500 mn financing agreement to purchase wheat from UAE\u2019s Al Dahra - 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\/2023\/08\/15\/egypt-signs-usd-500-mn-financing-agreement-to-purchase-wheat-from-uaes-al-dahra\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt signs USD 500 mn financing agreement to purchase wheat from UAE\u2019s Al Dahra\" \/>\n<meta property=\"og:description\" content=\"The Abu Dhabi Exports Office is providing low-cost financing\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/15\/egypt-signs-usd-500-mn-financing-agreement-to-purchase-wheat-from-uaes-al-dahra\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-15T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/728.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" 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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\/7\/835.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":608410,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/19\/uaes-al-dahra-wants-to-buy-up-more-land-in-toshka\/","url_meta":{"origin":603211,"position":3},"title":"UAE\u2019s Al Dahra wants to buy up more land in Toshka","author":"enterpriseam admin","date":"19 October 2023","format":false,"excerpt":"Al Dahra is in talks to buy up to 500k feddans of agricultural land","rel":"","context":"In 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