i24News (Egypt) published an article stating that Egypt is usually the world’s largest wheat importer, and relies heavily on Russian and Ukrainian exports Egypt on Monday set a fixed price for unsubsidized bread to counter rising food prices in the face of Russia’s invasion of Ukraine which closed off access to lower-priced Black Sea wheat. According to a study by IFPRI, increases in wheat prices could double annual state spending on imports from $3 billion to $5 billion.
Egypt sets fixed price for unsubsidized bread (i24News)
March 21, 2022