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Geopolitics of agricultural commodities put to the test by global crises

Wheat: a strategic commodity back on the global stage

with Jérémy Denieulle, Doctor of Geopolitics and Director of Studies at the Agriculture Stratégies Think Tank
On February 17th, 2026 |
5 min reading time
Jérémy Denieulle_VF
Jérémy Denieulle
Doctor of Geopolitics and Director of Studies at the Agriculture Stratégies Think Tank
Key takeaways
  • Today, wheat is the most exported cereal in the world, with 242 million tons traded globally, compared to 68 million for rice.
  • The COVID-19 pandemic and the war against Ukraine have caused wheat prices to skyrocket, affecting food security in sub-Saharan Africa and North Africa.
  • Wheat represents 69% of cereals for human consumption in Morocco and 96% in Tunisia.
  • North Africa and the Middle East are the regions most dependent on imported wheat in the world.
  • In 2025, ten countries accounted for 80% of global wheat exports, including Russia, Australia, the United States, Canada, Ukraine, and France.

A cent­ral staple of diets since Antiquity, wheat has emerged once again as a stra­tegic issue at the turn of the 2020s. “At that date, while less con­sumed glob­ally than rice, wheat is the most expor­ted cer­eal in the world: 242 mil­lion tonnes (Mt) traded glob­ally, com­pared to 68 Mt for rice,” spe­cifies Jérémy Denieulle, dir­ect­or of stud­ies for the think tank Agri­cul­ture Straté­gies. The effects of the COVID-19 pan­dem­ic, coupled with Rus­si­a’s inva­sion of Ukraine—two major wheat exporters—disrupted the bal­ance of sup­ply and demand. Prices exploded: the price of wheat approached 450 euros per tonne. The shock wave spread glob­ally, affect­ing food secur­ity in sub-Saha­ran Africa and North Africa along its path.

Limited resources

Along­side the Middle East, North Africa cur­rently con­cen­trates the highest rates of wheat con­sump­tion per cap­ita. A cent­ral com­pon­ent of diet­ary habits, wheat rep­res­ents 69% of cer­eals inten­ded for human con­sump­tion in Morocco and 96% in Tunisia. Since the mid-twen­ti­eth cen­tury, coun­tries in the region have gradu­ally fallen into hyper-depend­ence on imports to sat­is­fy domest­ic demand. Self-suf­fi­ciency dropped to less than 40% after World War II. Jérémy Denieulle adds: “North Africa and the Middle East form by far the region most depend­ent on impor­ted wheat in the world today. It con­cen­trates one-third of glob­al wheat pur­chases, while rep­res­ent­ing only 6% of the world’s pop­u­la­tion: of the 110 mil­lion tonnes of wheat con­sumed there annu­ally, 65 mil­lion come from imports.”

Accord­ing to the geo­graph­er, sev­er­al factors explain this phe­nomen­on. These coun­tries exper­i­enced strong demo­graph­ic growth with, for example, a pop­u­la­tion that tripled in Egypt between 1950 and 2010. While food needs increased pro­por­tion­ally, cul­tiv­able areas remain extremely lim­ited, as 95% of the ter­rit­ory is desert. To increase its agri­cul­tur­al area, Egypt relies on hori­zont­al expan­sion, that is, the con­quest of new lands in the desert. How­ever, to cul­tiv­ate in these arid zones, it was neces­sary to cre­ate irrig­a­tion pivots from the Nile in the south of the coun­try. With very little fresh­wa­ter resource, Alger­ia fol­lowed this expan­sion mod­el by draw­ing from ground­wa­ter aquifers. Yet, for both coun­tries, green­ing the desert, in a con­text of cli­mate dis­rup­tion and water stress, is a par­tial and, above all, unsus­tain­able solution.

In Egypt or Algeria, double-edged subsidy policies

In Alger­ia as in Egypt, bread has been a heav­ily sub­sid­ised com­mod­ity since the mid-twen­ti­eth cen­tury. It is at the heart of the social con­tract: social peace is obtained if the state is able to guar­an­tee access to bread for every­one. Jérémy Denieulle recalls that “in May 2023, under the effect of infla­tion caused by Rus­si­a’s inva­sion of Ukraine, the Egyp­tian gov­ern­ment decided to quad­ruple the price of sub­sid­ised bread (bal­adi bread) which had remained the same since 1989. A his­tor­ic decision that had a cata­clys­mic effect on Egyp­tians.” Sim­il­arly, in Alger­ia and Egypt, wheat is an emin­ently polit­ic­al sub­ject. The states are both dir­ectly involved in the cer­eal sec­tor, at all levels, and par­tic­u­larly in terms of imports. In Decem­ber 2024, the Egyp­tian gov­ern­ment decided to with­draw the man­date from the pub­lic com­pany that man­aged wheat imports to trans­fer it to the Air Force.

It is planned to export 3.5 mil­lion tons of wheat dur­ing the 2025–2026 sea­son to Morocco, where aver­age annu­al con­sump­tion is 288 kg per person

When Rus­sia began export­ing its wheat pro­duc­tion in the mid-2000s, then accel­er­ated the pace after 2014, Cairo gradu­ally turned away from Amer­ic­an or French wheat to turn toward Moscow. Egypt, loc­ated oppos­ite the Black Sea, was an ideal cli­ent for Rus­sia. “The world’s lead­ing wheat import­er, depend­ent before 2022 on nearly 80% of Rus­si­an (60%) and Ukrain­i­an (19%) wheat, in an extremely tense eco­nom­ic and budget­ary situ­ation, Egypt saw its room for man­oeuvre drastic­ally and dan­ger­ously reduced after the Rus­si­an inva­sion,” adds Jérémy Denieulle. This first part­ner­ship with Cairo opened the doors of the region to Moscow. A rap­proche­ment strategy was spe­cific­ally deployed toward Alger­ia; a mar­ket long con­sidered the pre­serve of French grain pro­du­cers. “Tak­ing advant­age of dip­lo­mat­ic ten­sions between Par­is and Algi­ers since 2022, Rus­si­an wheat has sup­planted French wheat, now cap­tur­ing nearly 80% of the coun­try’s imports.” Let us also recall that Rus­sia remains the world’s lead­ing export­er (55.5 Mt for 2023–2024) ahead of the EU (38.9 Mt) and the declin­ing United States (19.4 Mt).

French play­ers are seek­ing to redir­ect these lost mar­ket shares toward the neigh­bour­ing Moroc­can king­dom. It is planned to export 3.5 mil­lion tonnes of wheat dur­ing the 2025–2026 cam­paign to Morocco, where aver­age annu­al con­sump­tion is 288 kg per per­son, accord­ing to data from the U.S. Depart­ment of Agri­cul­ture [Edit­or­’s note: For com­par­is­on, aver­age annu­al con­sump­tion in France is 92 kg/year].

Sub-Saharan Africa and wheat, a recent history

It wasn’t until the mid-twen­ti­eth cen­tury that we saw an explo­sion in wheat demand in sub-Saha­ran Africa. On a glob­al scale, this mar­ket (along with South­east Asia) has recor­ded the strongest growth. Jérémy Denieulle explains this through vari­ous factors: “Wheat-based products, such as bread, are con­sumed more in cit­ies than in the coun­tryside because they keep eas­ily and often require less pre­par­a­tion than loc­al foods.” It is partly due to these advant­ages, and in a con­text of gal­lop­ing urb­an­isa­tion com­bined with strong demo­graph­ic pres­sure, that demand exploded. “Nev­er­the­less, since it is a cer­eal adap­ted to tem­per­ate cli­mates, lands suit­able for wheat cul­tiv­a­tion and cap­able of meet­ing such needs are rare. They have thus been filled by import flows.” Sub-Saha­ran Africa crossed a new record with 30 mil­lion tonnes impor­ted in 2024–2025.

Nigeri­ans’ diet rap­idly trans­formed dur­ing the 1960s-1970s, stim­u­lated by the coun­try’s urb­an­isa­tion and the change in life­styles from coun­tryside to city. “Vir­tu­ally non-exist­ent before the 1950s, wheat con­sump­tion increased from 6 kg per cap­ita in 1974 to 22 kg in 1985. The coun­try recor­ded a 400% increase in just ten years, going from 300,000 tonnes of wheat per year in 1974 to more than 1,700,000 tonnes in 1985.” The lack of pro­ductiv­ity in rur­al areas and defect­ive road infra­struc­ture between pro­duc­tion zones and con­sump­tion zones cre­ated a new para­dox: impor­ted wheat is much more com­pet­it­ive than loc­ally pro­duced com­mod­it­ies. Today, Niger­ia is the 7th largest wheat buy­er in the world: “In 2021, the coun­try pro­duced 90,000 tonnes of wheat and impor­ted 6.3 mil­lion tonnes.” The lack of main­ten­ance of irrig­a­tion sys­tems in the north of the coun­try, fail­ing gov­ernance, chron­ic insec­ur­ity, or the lack of inputs and adap­ted seeds con­tin­ue to hinder production.

Food security dependent on global uncertainties

These flour­ish­ing and luc­rat­ive mar­kets have attrac­ted export­ing powers. “In the 1970s-1980s, the United States reigned supreme over glob­al agri­cul­tur­al flows. It was­n’t until the early 2000s that new act­ors appeared.” In 2025, only ten coun­tries account for 80% of glob­al exports: Rus­sia (13.8%), Aus­tralia, the United States, Canada, Ukraine, France, Argen­tina, Ger­many, Romania, and Kaza­kh­stan. The Krem­lin integ­rates wheat export as a vec­tor to estab­lish itself dur­ably in coun­tries in the region to defend its interests there. “Moscow has offi­cially declared that wheat, in Rus­si­a’s eyes, is a stra­tegic product on par with oil, espe­cially in a con­text where Rus­si­an oil is tar­geted by numer­ous sanctions.”

Where pop­u­la­tions are already fra­gile in terms of food, price increases can have tra­gic con­sequences. The war in Ukraine, largely respons­ible for glob­al infla­tion, has fur­ther com­plic­ated access to wheat or fer­til­isers. To return to the case of Niger­ia, he spe­cifies that “the increase in pro­duc­tion costs has been reflec­ted in food prices: food infla­tion exceeded 38% in 2024 and bread, although less cent­ral in Nigeri­an diets than rice or corn, saw its price increase by nearly 30% in 2022.”

In the FAO report The State of Food Secur­ity and Nutri­tion in the World pub­lished in 2025, it is con­firmed that while glob­al food insec­ur­ity declined between 2023 and 2024, Africa and West­ern Asia are the only two regions in which the num­ber of people who exper­i­enced hun­ger con­tin­ued to increase. “The region must nav­ig­ate troubled waters in inter­na­tion­al wheat mar­kets, sub­ject to extreme vari­ations that can some­times under­mine social and polit­ic­al sta­bil­ity, moreover, where states’ capa­cit­ies to absorb crises are weak,” con­cludes Jérémy Denieulle.

 

Alicia Piveteau

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