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.

(Reporting by Mohamed Ezz, Michael Hogan, Olga Popova and Gleb Bryanski. Editing by Mark Potter)

((mohamed.ezz@thomsonreuters.com;))