First Independent Mena Newspaper
North Africa’s wheat import landscape has undergone a dramatic transformation, with Black Sea suppliers now controlling 75 percent of the market as European Union share plummets to 25 percent, according to the U.S. Department of Agriculture’s latest analysis. The region, comprising Egypt, Libya, Tunisia, Algeria, and Morocco, represents 15 percent of global wheat imports. During […]
Russia significantly boosted its agricultural exports to Africa in 2024 by 19%, reflecting the country’s growing economic influence across the continent amid the continuing war in Ukraine. During the previous fiscal year, Russia’s agricultural exports to Africa surpassed $7 billion, according to a statement released by the Agricultural Export Center (Agroexport), with Egypt, Algeria, and […]
Moroccan wheat traders FNCL and the Russian grain trader’s union (Rusgrain) signed a deal to promote Russian grain exports to Morocco as the north African Kingdom seeks to diversify suppliers and build strategic stockpiles of key staples. The deal was signed on November 29 during a visit of a delegation of 37 Russian wheat traders […]
The Nigerian Government has secured a $134 million loan from the African Development Bank (AfDB) to strengthen its agricultural sector amid growing food insecurity concerns. This funding aims to increase seed and grain production and improve food security, according to a statement of the Agriculture ministry on November 14. A recent “Harmonized Framework” report, prepared […]
France has emerged as Cameroon’s leading wheat supplier, ahead of Russia which has seen its supplies shrink by 65 per cent, per data published by the country’s statistics agency. Russia as late as 2020 was Cameroon’s largest supplier with 396,000 tons but the figure slumped to 138,000 last year. Cameroonian wheat buyers according to the […]
Mali announced Wednesday Russia is set to send 60,000 tons of oil, 25,000 tons of wheat and 35,000 tons of fertilizers worth $100 million through the port of Conakry. “Following our exchanges, a first shipment of goods should arrive in Bamako in a few weeks. These include 60,000 tons of petroleum products, 35,000 tons of […]
The African Development Bank, AfDB, has accorded $80 million credit facility earmarked to enhance food self-sufficiency and security, through securing the supply of soft wheat, barley and fertilizers. The loan deal was signed Thursday between Samir Said, Tunisia’s Minister of Economy and Planning and Mohamed El Azizi, the Director General, Regional Development and Service Delivery […]
The International Monetary Fund (IMF) said on Thursday it had agreed a $3 billion Extended Fund Facility (EFF) over 46 months with Egypt, Reuters reports. The deal is part of a four-year international financing program worth a total of $9 billion which also includes $1 billion from the IMF’s Resilience and Sustainability Trust (RST) and […]
The trade deficit in Tunisia widened by record 56% in the first semester of 2022, reaching 8.1% of GDP, while the budget deficit, exacerbated by mounting energy and food subsidies, is expected to reach 9.1% in 2022, compared to 7.4% in 2021, according to the World Bank’s latest report. Inflation in this country rose from […]
With Russia’s invasion of Ukraine in its seventh month, Nigerians are feeling a harder punch with the scarcity of energy sources, wheat and fertilizer, as well as a worsening foreign exchange scarcity. While oil and gas exports account for 90% of Nigeria’s foreign exchange earnings, falling oil output and demographic growth mean that production is […]