Homepage  Homepage     Search on site  Search on site     To write the letter  To write the letter     Site map  Site map
Agro Perspectiva
We are on: 
   

Photoblog

 


Home > News

Grain Export Ban Stokes Fears in Egypt

20.08.2010 10:56 "Agro Perspectiva" (Kyiv) Russia’s temporary ban on grain exports is stirring both political and economic anxiety in Egypt, the world’s largest wheat importer, where half of the 80 million residents rely on subsidized bread to survive. Russia, which supplies more than 50 percent of Egypt’s wheat imports, had announced a temporary ban on grain exports earlier this month because of a drought. In addition, Ukraine on Tuesday said it plans to halve grain exports for the rest of the year. The Russian move predictably sent global grain prices higher. But for Egypt, it carried serious political and economic implications, and it came at a delicate time for a government already accused of corruption and ignoring the needs of the poor. Protests over increasing food prices have been rife ahead of upcoming parliamentary elections this year and presidential elections next year, giving rise to concerns about who will steer a nation that has known one ruler for almost 30 years. On Monday, a 24-year-old man known to suffer a heart condition died while waiting in a chaotic bread line outside a bakery in southern Egypt. Authorities said he died after a two-hour wait in the line on a particularly hot day. The media called him «the first victim» of bread lines in the holy month of Ramadan, when consumption of bread and baked sweets are at an all-time high. «Subsidized bread is the most important thing the government gives to the people,» said Egyptian economist Mohammed Abu Pasha of investment house EFG-Hermes. «It is a very basic and sensitive issue, and the government had to act quickly to reassure people. It is not about elections; it’s about possible social unrest.» Bread is one of the few affordable staples in the country — costing the equivalent of 1 cent per round loaf. Its subsidization, for decades, was one of the many unwritten «understandings» between the government and the country’s poor majority, even though food subsidies cost the country $3 billion per year — or roughly 65 percent of what it made in fiscal 2009 from the Suez Canal, one of its key foreign-currency revenue sources. Along with education and health care, the government’s tacit pledge to help shoulder the costs of key goods was integral to its ability to appease a nation where officials are widely seen as corrupt, favoring wealthy business interests at the expense of the nearly 50 percent of Egyptians who live on less than $2 per day.

Agro Perspectiva

< Argentina - No help in global wheat crisis All news for
20.08.2010
Within Jul companies enhanced milk output by 3.6%, up to 76,400 MT >

05.06.2020  
17:20 McDonald's to open five restaurants in Ukraine in 2020, to accelerate network development in 2021
16:30 Ukraine's intl reserves 1.3% down in May, to $25.372 bln
04.06.2020  
12:50 FAO Food Price Index falls to 17-month low
12:20 FAO Director-General appeals to donors to scale up response and ease plight of farmers and fishers in Yemen
11:25 Väderstad continues to invest in the manufacture of genuine parts
02.06.2020  
12:15 Ukraine ready to discuss expansion of range of food export to Japan Economy minister
11:11 MHP SE. Unaudited Financial Results for the First Quarter ended 31 March 2020
29.05.2020  
15:00 Brazil. Sugar production is estimated at 39,5 MT in 2020/2021
27.05.2020  
20:20 Govt backs separation of ecology ministry from Energy and Environmental Protection Ministry
26.05.2020  
10:22 EBRD provides EUR3 million loan to Ukrainian cereal producer
22.05.2020  
18:25 Forecast for Ukraine's GDP fall by 4.8% in 2020 maintained Economy minister
21.05.2020  
18:14 New Zealand. Apple production expected to reach a record level of 593,000 metric tons
17:40 Ukrzaliznytsia sees UAH 7 bln of loss in Q1 2020
17:38 EBRD provides 60 million USD for Fozzy Group expansion
19.05.2020  
09:50 Ukraine's GDP 1.5% down in Q1, 2020 statistics
18.05.2020  
15:50 Global rice area is forecast to rise in 2020/2021
13.05.2020  
10:53 Record Corn, Wheat, and Rice Crops Build Stocks in 2020/21 - USDA
09:10 Ukraine GDP will contract by 4.5 per cent in 2020
12.05.2020  
10:30 Kazakhstan. Wheat production is expected to recover in MY 2020/21 to 13.5 MMT
07.05.2020  
16:50 Bunge reported first quarter 2020 results: Q1 GAAP EPS of $(1.46) vs. $0.26 in the prior year
15:40 Global food commodity prices drop further in April
05.05.2020  
20:10 AGCO. Net sales dropped by 3.4% in the first quarter
18:18 Export Forecasts Lowered for Beef & Chicken in 2020
17:35 Deficit of national budget totals UAH 23.5 bln in Jan-April Finance ministry
17:10 EU sugar production in MY 2020/2021 is forecast to increase to 17.7 million MT
16:30 AGCO Appoints Wolfgang Kirsch to its Board of Directors
10:30 CNH Industrial announces a progressive resumption of manufacturing operations
04.05.2020  
17:25 COVID-19: Using economic stimulus to reduce the long-term hunger impact
15:45 Cabinet approves criteria allowing food markets to resume their operation
15:25 Deficit of Ukraine's consolidated balance of payment totals $1.8 bln in March
02.05.2020  
14:05 BASF Groups sales in the first quarter of 2020 increased to 16.8 billion
30.04.2020  
11:35 Kazakhstan: First and Second Stage 2020 Meat TRQs for Kazakhstan
10:05 BASF Group withdraws outlook for 2020 business year
28.04.2020  
18:50 Netherlands: Impact of COVID 19 on the Dutch Potato Industry
24.04.2020  
21:45 Ukraine's economy ministry revises downwards grain forecast for 2020 to 60 mln tonnes due to lack of moisture, pandemic
21:15 Economy ministry plans to restrict export of Ukrainian corn to 29.3 mln tonnes, UGA opposes this decision
09:33 EBRD launches Vital Infrastructure Support Programme
09:31 EBRD targets coronavirus financing of EUR21 billion through 2021
22.04.2020  
18:20 Assessing El Niños impact on fisheries and aquaculture around the world
17:25 FAO urges at G20 meeting protection of food supply chains amid COVID-19 threat
17:20 Australia. Wheat production is forecast at 23 MMT in MY 2020/21
17:15 Global Report on Food Crises reveals scope of food crises as COVID-19 poses new risks to vulnerable countries
16.04.2020  
13:55 Some 60% of Ukrainians not support land sale law, 46% against cooperation with IMF social survey
13:05 IMF to help Ukraine, several issues left to approve EFF IMF official
14.04.2020  
17:10 Romania Suspends Grain and Oilseed Exports to Non-EU Markets
13.04.2020  
18:35 Rada updates 2020 national budget due to COVID-19 spread, deficit raised from 2.1% to 7.5% of GDP
14:15 Chicken Meat. The forecast for global chicken meat production is revised 2 percent lower to 100.5 million tons
10.04.2020  
17:00 COVID-19 Upends Global Protein Markets
10:35 Record Global Supplies for Wheat and Rice
09.04.2020  
12:21 The Russian Government decided to impose a quota limiting exports of certain grains in the amount of 7MMT

Also available: 

Agrarian Week in digital



READ ON-LINE




NewsNews - News - News - News - News - News
BriefWeekly Reports - Free article
SubscriptionTariff - News&Reports
AdvertisingMagazine - Site
ConferencesForum AGRO-2013 - DAIRY WORLD-2008 - FERTILIZERS-2010
Statistics
For our clientsAgroNewsDaily - Ukrainian Grain&Oilseed Market - Fertilizers - Milk Monthly - Milk Weekly
About usAbout project - Contact
2002 -2020 © Agrarika, ltd.
tel.: +38 (044) 486-9171, 486-8119
fax: +38 (044) 486-8830, 494-4889
e-mail: info@agroperspectiva.com