Egypt plans major wheat import reductions for budget savings

Egypt is planning to reduce wheat imports and cut spending on subsidized bread by incorporating corn or sorghum into its ingredients, according to five industry sources who spoke to Reuters. The proposals aim to save millions but face resistance from bakers and millers concerned about financial losses and potential impacts on bread quality. Egypt, struggling with rising debt, currency shortages, and inflation, views its bread subsidy program, which it plans to phase out, as a significant budgetary burden.