Egypt, one of the world's largest wheat-importing countries, has notified its intention to withdraw from the United Nations grain trade agreement effective at the end of June. This decision has caused concern among some other signatories of the agreement. Arnaud Petit, the executive director of the International Grain Council, told Reuters, "This happened without any prior indication. Several delegations from member countries feel astonished and saddened by the decision," noting that some members will urge Egypt to reconsider its choice.
The Egyptian Foreign Ministry, in turn, informed Reuters that the decision was made after an assessment by the ministries of supply and trade, which concluded that Egypt's membership in the council does not hold added value. Egypt's withdrawal from the agreement comes after a period of disturbances in grain markets due to the war in Ukraine and concerns related to global food security. The Egyptian government had discussions with countries including India in an effort to find alternative grain sources that are not reliant on the Black Sea. It is worth mentioning that Egypt has been a signatory to the agreement since its inception in 1995; it is the only international treaty covering grain trade, and includes the United States and the European Union along with several grain importers and exporters worldwide.
