Egypt has shifted responsibility for importing strategic commodities, including wheat, from the General Authority for Supply Commodities (GASC) to Mostakbal Misr Agency for Sustainable Development. According to a letter seen by Reuters, the move consolidates control under the Egyptian Armed Forces and introduces a new approach to procurement, combining international tenders with direct purchases.

This change comes as Egypt, one of the world’s largest wheat importers, seeks to ensure the stability of its bread subsidy program, which benefits 70 million people. GASC, a trusted entity under the Ministry of Supply, had been the country’s primary body for wheat procurement for decades.

The letter, addressed to Russia’s Minister of Agriculture, Oksana Lut, states that Mostakbal Misr will now handle all aspects of wheat imports and guarantees financial backing for its operations. The agency, established by presidential decree in 2022, was initially tasked with land reclamation but has since expanded its scope to include other sectors.

The transition has raised questions among global traders, particularly regarding procedural clarity. Although the Egyptian government assures that the change aims to streamline operations, traders and investors are watching closely as the agency establishes itself in global markets. 

For the 2024/25 marketing year, Egypt’s wheat imports are forecast at 12.5 million metric tons, while domestic wheat production is estimated at 9.2 million metric tons. This leaves a significant gap to meet the country's estimated wheat consumption of 20.65 million metric tons during the same period.