The General Authority for Supply Commodities (GASC) said it had reached an agreement to purchase 360,000 tons of Russian and Romanian wheat through an international tender.
Egypt, the largest wheat importer of the world, had contracted on this shipment with Ukrainian company Enerco on December 29, 2021 throughout an international tender at a price of $361.25 per ton.
The General Authority for Supply Commodities (GASC,) said on Tuesday it was seeking an unspecified quantity of wheat for shipment between Oct. 26 and Nov. 5.
Minister of Supply and Internal Trade Ali Moselhi said Sunday that Egypt's huge strategic reserve of commodities is sufficient for the coming months.
About 295,000 tons of Russian wheat will be imported as per a second tender.
Egypt's state security prosecutor ordered four Egyptian officials detained for four days for questioning on suspicion of taking bribes from commodities trading firms.
The ministry said that there was no increase in the price of rice at government outlets, saying that the price is stable at LE 6.5 per kilogram.
The largest allocation was LE 2.55 billion and it went for the General Authority for Supply Commodities (GASC).
An official in the Ministry of Supply told Egypt Today that around 30,000 tons will be soybean oil, while more than 10,000 tons will be sunflower oil.
The allocations included LE 3.4 billion for the General Authority for Supply Commodities (GASC) for the use of ration card and bread subsidies.
Those trips, funded by exporters, have been cancelled as part of Egypt’s efforts to streamline imports worth more than $1 billion a year.
The lowest offer was at $197.95 a tonne free-on-board for 60,000 tonnes of Russian wheat, traders said.
Government purchases in the world’s biggest wheat importer rose 80 percent for the first seven months of 2017.
The higher moisture tolerance is likely to do little to help French wheat compete with Russia this season.
Egypt’s state grain buyer General Authority for Supply and Commodities (GASC) GASC said on Tuesday.
Egypt will not reinstate a controversial ban on ergot, state-grain buyer GASC told Reuters on Saturday.
Egypt's General Authority for Supply Commodities (GASC) has cancelled a purchase tender for at least 50,000 tonnes of raw sugar, it said on Thursday.
Egypt has about 2.6 months worth of wheat in its strategic reserves and expects to buy about 3.8 million tonnes from local farmers, Minister of Supply Ali Moselhy told Reuters on Monday at an event to mark the beginning of the local harvest