CAIRO, Jan 21 (Reuters) - Egypt's state grain buyer,

Mostakbal Misr, has made a significant purchase of Russian

wheat, set for shipment this month, three sources familiar with

the matter told Reuters.

The shipment, procured through Russia's OZK Group, will be

loaded onto four vessels sailing under the Egyptian flag.

The sources did not disclose the total volume or price of

the transaction, but the vessels, currently en route to Russia's

Novorossiysk port, have a combined carrying capacity exceeding

250,000 metric tons.

Egypt, one of the world's largest wheat importers, has faced

challenges in maintaining its grain reserves in recent months.

In 2024, logistical and financial hurdles disrupted the

government's regular import operations, causing stocks to dip

below the government's six-month target.

The Cabinet recently stated that Egypt's strategic wheat

reserves are sufficient for four months of local consumption.

The Russian shipment follows Mostakbal Misr's announcement

last week of new supply agreements with European grain

producers.

These deals, described as efforts to secure favourable

prices and diversify wheat sources, include barter arrangements

leveraging Egypt's comparative advantages in other sectors.

Specific details, including volumes, prices, and supplier

countries, remain undisclosed.

Russia has been a key supplier of wheat to Egypt, dominating

both state and private-sector imports.

Trade data seen by Reuters shows that in 2024 Egypt imported

approximately 14.7 million tons of wheat, with 74.3% sourced

from Russia.

Mostakbal Misr, established in 2022 by presidential decree,

succeeded the decades-old General Authority for Supply

Commodities (GASC) as the country's primary grains buyer.

Previously serving as the development arm of the Egyptian

Air Force, the organisation's sudden move to this role marked a

significant shift in Egypt's wheat procurement strategy,

surprising international markets.