Failure to buy enough local wheat would not only potentially provoke social unrest in a country where heavily subsidised bread is a mainstay of the diet, but could also force the government to spend scarce dollars on wheat imports. It wants to defer this until later in the year when it hopes it will have concluded a stalled loan agreement with the International Monetary Fund.
Already Egyptians are growing tired of the Muslim Brotherhood government, which has spent all of its time in office making enemies, grasping after more power, and delaying decisions on vital policies, all while the security situation continues to deteriorate.The wheat crop story is bad, bad news on top of all this. Egypt could be in for a volatile summer—one like nothing we’ve seen yet.[Image courtesy Getty]