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Egypt is the world’s largest wheat importer, with consumption surpassing 20 million tonnes per year and a persistent structural import gap of approximately 10-13 million tpy despite initiatives to boost domestic production.
Egypt also serves as a principal market for Black Sea suppliers, including Russia, Ukraine, Romania and Bulgaria.
Until 2025, there was an established benchmark for 12.5% wheat pricing in Egypt, determined by state buyer GASC through official tenders. Following the transition to another state buyer, Mustaqbal Misr (Future of Egypt), tender procedures were revised and procurement was no longer publicized, resulting in the loss of price transparency in an important destination market.
The new 12.5% CIF Egypt price launch will enhance transparency regarding regional developments and will supplement Fastmarkets’ existing FOB price assessments for Black Sea origins.
Historically, the Wheat CFR North Africa assessment has represented broader regional import values, closely tracking the lowest-priced wheat shipped to North African markets – predominantly 11.5% protein wheat originating mainly from Ukraine to Egypt.
The assessment has therefore served as an indirect benchmark based on observed trade patterns.
Fastmarkets is now proposing to shift this into a full price assessment of 11.5% CIF Egypt price to better reflect the reality of a changing procurement landscape.
The specifications are as follows:
AG-WHE-0059 Wheat 12.5%, CIF Egypt, $ per metric tonne
Quality: 12.5% milling wheat. Minimum protein 12.5%. Max moisture 14%. Max waste impurities 5%.
Quantity: 25,000-50,000 metric tonnes
Incoterm: CIF
Location: Egypt
Data window: Daily, up to 16:30hrs Europe/Kyiv time
Currency/Unit: $ per metric tonne
Payment terms: Cash Against Documents
Delivery: Delivery is the next loading month from the assessment day for the first 15 days of the month, with the laycan rolling to the second calendar month on the 16th of each month.
Notes: This is an assessment price based on the cheapest of two origins (Russia or CVB – includes the Romanian Constanta port and the Bulgarian Varna and Burgas ports) on a CIF basis, or FOB plus freight where no CIF price reference is available.
AG-WHE-0050 Wheat 11.5%, CIF Egypt, $ per metric tonne
(amendment from Wheat CFR North Africa)
Quality: Milling wheat. 11.5% minimum protein content. Max moisture 14%. Max waste impurities 5%.
Quantity: 25,000-40,000 metric tonnes
Data window: Daily, up to 16.30hrs Europe/Kyiv time
Notes: This is an assessment price based on the cheapest of three origins (Ukraine, Russia or CVB – includes the Romanian Constanta port and the Bulgarian Varna and Burgas ports) on a CIF basis, or FOB plus freight where no CIF price reference is available.
These assessments will be part of the Fastmarkets agriculture package.
Please send any questions or comments to pricing@fastmarkets.com and EMEA_Ags@fastmarkets.com. Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.
To see all Fastmarkets’ pricing methodology and specification documents, go to the Fastmarkets methodology page.