UAE and Egypt strike $500m wheat deal

Two leading Abu Dhabi businesses have struck a deal to supply wheat to Egypt for the next five years, in a partnership that is expected to significantly boost the country’s food security and economy. 

Al Dahra, a global agricultural business, and the Abu Dhabi Exports Office (ADEX) have partnered to supply wheat to Egypt for five years in a deal worth $100m per year, starting this year. 

Commenting on the deal, the Egyptian minister for supply and internal trade, Ali Al Moselhi, said: “This agreement solidifies our commitment to establishing long term supply deals with key producers across the world, aiming to provide the people of Egypt with access to essential food supplies and strengthen our food grain supply chain buffer to withstand any unexpected shocks in the global markets.”

He continued: “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 financing cost 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.”