date:May 09, 2014
erves were at $17.489 billion in April, down sharply from their pre-2011 revolution level of around $36 billion.
Egypt imports around 10 million tonnes of wheat a year to feed its 85 million people with the cheap subsidized bread that they expect, but in 2013, shrinking foreign exchange reserves pushed imports to their lowest in five years. Imports have since returned to more normal levels.
While food commodities are top priorities for spending, traders are experiencing some delays with letter