Sudan’s Wheat Import Requirements to Rise to 3.5 Mln Tons in 2023

A container with wheat is seen aboard Marshall Islands flagged general cargo ship Negmar Cicek loaded with wheat for Yemen, amid Russia's attack on Ukraine, in a sea port of the Chornomorsk town, Odesa region, Ukraine March 24, 2023. (Reuters)
A container with wheat is seen aboard Marshall Islands flagged general cargo ship Negmar Cicek loaded with wheat for Yemen, amid Russia's attack on Ukraine, in a sea port of the Chornomorsk town, Odesa region, Ukraine March 24, 2023. (Reuters)
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Sudan’s Wheat Import Requirements to Rise to 3.5 Mln Tons in 2023

A container with wheat is seen aboard Marshall Islands flagged general cargo ship Negmar Cicek loaded with wheat for Yemen, amid Russia's attack on Ukraine, in a sea port of the Chornomorsk town, Odesa region, Ukraine March 24, 2023. (Reuters)
A container with wheat is seen aboard Marshall Islands flagged general cargo ship Negmar Cicek loaded with wheat for Yemen, amid Russia's attack on Ukraine, in a sea port of the Chornomorsk town, Odesa region, Ukraine March 24, 2023. (Reuters)

Sudan will need to import 3.5 million tons of wheat this year because of a 30% drop in the projected local harvest after farmers switched to planting different crops, the UN Food and Agriculture Organization (FAO) said on Wednesday.

Some farmers told Reuters the government had failed to buy their wheat on promised terms last year, leaving them reluctant or without the money to plant a new crop.

This year production of sorghum, a staple in Sudan, and of millet, is expected to recover, helped by favorable rains, the FAO said. Projected wheat imports will therefore account for nearly all Sudan's expected cereal import requirements of 3.6 million tons, it added.

"This will have a major impact on the food security of millions of Sudanese people, as international prices of wheat continue to increase and the country's national currency weakens," the agency said in a statement.

In 2022, Sudan imported 2.7 million tons of wheat and flour at a cost of $1.06 billion, with Russia, Australia, and Romania being the top import origins, according to central bank data.

Humanitarian agencies have warned of rising levels of hunger in Sudan, where more than one third of the population faced acute food insecurity last year.

"Communities are facing differing scales of vulnerabilities driven by soaring prices of staple crops, and the combined effects of economic downturn, high inflation, climate-induced hazards and conflict," the FAO statement quoted its Sudan representative Adam Yao as saying.



Gold Firms in Thin Trade as Investors Weigh Fed Outlook

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
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Gold Firms in Thin Trade as Investors Weigh Fed Outlook

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo

Gold prices firmed on Monday, although trading was thin due to the holiday season and as investors looked for cues on the US Federal Reserve's monetary policy trajectory for next year after it signaled gradual easing in its latest meeting.
Spot gold added 0.3% at $2,628.63 per ounce, as of 0941 GMT, trading in a narrow $16 range. US gold futures eased 0.1% to $2,643.10.
"(It's a) Quiet day with lower liquidity and limited data releases during the holiday season," said UBS analyst Giovanni Staunovo.
"We retain a constructive outlook for gold in 2025, targeting a move to $2,800/oz by mid-2025."
The Fed cut rates by 25 basis points on Dec. 18, although the central bank's predictions of fewer rate cuts in 2025 resulted in a decline in gold prices to their lowest level since Nov. 18 last week.
US consumer spending increased in November, supporting the Fed's hawkish stance, a sentiment that was also shared by San Francisco Fed President Mary Daly.
Higher interest rates dull non-yielding bullion's appeal.
"Presently, we are in a lull for Christmas week with the gold price trending sideways. Federal Reserve policy is clear with expectations of rising interest rates in the second half of the year," said Michael Langford, chief investment officer at Scorpion Minerals.
"The next big impact is the incoming presidency of (Donald) Trump and the initial presidential decrees that he might declare. This has the potential to add to market volatility and be bullish for gold prices."
Gold, often considered a safe-haven asset, typically performs well during economic uncertainties.
Spot silver rose 0.8% to $29.75 per ounce and platinum climbed 1.3% to $938.43. Palladium steadied at $920.53.