Cairo / Sochi: Egypt is planning to establish a global grain trading and storage hub as part of a broader strategy to strengthen its position in international food markets and expand regional supply networks, Supply Minister Sherif Farouk said during a grains conference in the Russian city of Sochi.
Egypt, currently the world’s largest importer of Russian wheat, aims to transform itself into a central hub for grain storage, processing, and trade serving markets across the Middle East, Africa, and other regions.
Farouk said the proposed project would include the construction of modern grain elevators, advanced transport systems, and expanded storage and processing facilities. He described the initiative as part of an “ambitious and comprehensive strategy” to modernize Egypt’s grain infrastructure and improve supply chain efficiency.
According to the minister, Egypt is also exploring cooperation between Egyptian and Russian commodity exchanges to modernize grain trading systems, develop pricing benchmarks, and increase transparency in supply chains.
The plan comes amid growing concerns over global food security and supply disruptions linked to geopolitical tensions and regional instability. Egypt has accelerated efforts in recent months to expand strategic food reserves and strengthen logistics capabilities.
Last month, Egyptian Prime Minister Mostafa Madbouly chaired meetings on the proposed grain and oils logistics hub, directing ministries to complete feasibility studies covering storage capacity, investment costs, expected returns, and implementation timelines.
Russia has also expressed support for expanding commodity cooperation with Egypt. Earlier, Russian President Vladimir Putin proposed the idea of a “grain and energy hub” in Egypt during talks with Egyptian officials in Moscow.
Egypt remains one of Russia’s most important grain buyers, importing millions of tonnes of Russian wheat annually as Cairo seeks to secure stable food supplies for its population of more than 100 million people.