W ith a growing population of more than 80mn, Egypt represents one of the largest markets in the region, agriculture contributes to around 13% of Egypt’s GDP in 2012/2013.
Egypt remains the world’s largest wheat importer, and moderating global prices will help to decrease pressure on the country’s fiscal situation and on local inflation. In line with this, Egypt ramped up wheat imports at the end of 2013 as prices moderated sharply and as Russia, which traditionally supplies the country at very competitive prices, returned to export markets. the lifting of the three-year ban on rice exports as providing a boost to the local industry. The sugar industry is benefiting from a tight local market and higher domestic prices.