UAE: New $500-million agreement to secure Egypt’s wheat supply

UAE: New $500-million agreement to secure Egypt’s wheat supply

Al Dahra, Abu Dhabi Exports Office have partnered in a 5-year deal starting 2023

By Web Desk Published: Tue 15 Aug 2023, 7:38 PM

Al Dahra, a global agribusiness leader based in Abu Dhabi, and Abu Dhabi Exports Office (Adex) have partnered to supply wheat to Egypt in a 5-year deal starting 2023. The five-year agreement, worth $100 million per year, will provide Egypt with a steady supply of high-quality imported milling wheat.

“This agreement solidifies our commitment in establishing long term supply deals with key producers across the world, so that the people of Egypt have access to essential food supplies and strengthening our food grain supply chain buffer to withstand any unexpected shocks in the global markets,” said Dr. Ali Al-Moselhy, Egypt's Minister for Supply and Internal Trade. “We’re glad to partner with Al Dahra and Adex, who are committed to our objectives. The low-cost financing package from Adex helps us procure high quality wheat at the lowest cost financing available, with comfortable payment terms. This is a successful milestone in our mission to ensure food security to the Egyptian people. All three parties have been working hard over the past few months to bring this to fruition.”

Mohamed Saif Al Suwaidi,