UAE-based agribusiness Al Dahra and the Abu Dhabi Exports Office (ADEX) have signed a $500 million deal to supply Egypt with wheat, a statement said on Monday. The five-year agreement, worth $100 million per year, will provide Egypt with imported milling wheat "at competitive prices". Egypt, a major buyer of basic commodities, has been suffering a foreign currency crunch after the Ukraine war delivered a broad shock to its economy.
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According to a statement released on Monday, the Abu Dhabi Exports Office (ADEX) and the AE-based agricultural company Al Dahra struck a $500 million agreement to export wheat to Egypt. | Pulse Nigeria
Egypt, a major commodity buyer, suffered a foreign currency crisis after the war in Ukraine sent shockwaves through its economy - Click the link for more details.
UAE-based agribusiness Al Dahra and the Abu Dhabi Exports Office signed a $500 million deal to supply Egypt with wheat, a statement said on Monday.. -Today at 05:12 pm- MarketScreener