Nov. 20 (Bloomberg) -- Egypt, the world’s biggest wheat importer, will keep Ukraine on its list of approved sources for the cereal as long as traders supply contracted quantities even if there is an export ban on Ukrainian grain.
If a ban is put into place traders must supply the North African country with grain from another Black Sea country and bear any extra costs, Nomani Nomani, vice chairman of Egypt’s state-run General Authority for Supply Commodities, said by phone from Cairo today.
Drought may cut the combined wheat harvests in Ukraine, Russia and Kazakhstan by 37 percent this year, the U.S. Department of Agriculture has estimated. Ukraine ranked eighth among world wheat exporters last year.
The east European country told Egypt that it has 1.1 million metric tons of grain for export, Nomani said.
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