Egypt diversifies wheat imports toward France and other Europe suppliers

CAIRO, Sept 20 (Reuters) — Egypt is diversifying its source of wheat imports towards France and other European suppliers, moving away from Ukraine and Russia where supplies have been disrupted, Supply Minister Sherif Farouk was quoted as saying on Sunday. The minister's remarks were quoted by television host Ahmed Moussa and later confirmed by a ministry spokesperson. Egypt has increased its engagement with Bulgaria and Romania and is boosting its focus on France, which is emerging as a key supply partner, Farouk was quoted as saying. Cairo has a 50,000-metric ton wheat shipment en route from France, with shipments from that country continuing, according to the comments. Egypt's wheat reserves are sufficient for more than six months of strategic consumption, Farouk was quoted as saying. The Supply Ministry is in discussions with the country's state grain buyer, Future of Egypt Authority, and the Finance Ministry to purchase additional wheat quantities as a hedge against potential future price increases. The plan is to buy more once global wheat prices ease slightly, according to Farouk's comments. Egypt is one of the world's largest importers of wheat, which supplies a subsidised bread program that underpins food security for tens of millions of its citizens. It has pushed to diversify its imports and reduce its heavy dependence on Russian and Ukrainian wheat supplies, which were disrupted in recent weeks. (Reporting by Mohamed Ezz; Editing by Edmund Klamann) ((Yasmine.Ghania@thomsonreuters.com;)