Iraq's cabinet approved buying the whole local wheat harvest exclusively for the current season and the price it will pay for the crop will be according to the global-index price, it said in a statement on Tuesday.
The s announcement comes as Iraq, a major grain importer, takes urgent measures to secure strategic stocks of wheat and support a local food subsidies programme in the light of recent Ukraine-Russia crisis and its impact on food security.
Meanwhile, Egypt does not need additional wheat shipments in short- or medium-term as the supply situation is stable, supply minister Ali Moselhy said on Tuesday. Egypt is often the world's top importer of wheat. Russia's invasion of Ukraine has left Egypt's wheat import prospects in turmoil. - Reuters
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