Egypt to import wheat from Russia, Ukraine

24.02.2017

Egypt’s General Authority for Supply Commodities (GASC) has signed an agreement to import 360,000 tons of Russian and Ukrainian wheat, a statement by the Egyptian Ministry of Supply revealed on Thursday.

The statement added that the move aimed to boost the country’s wheat stock allocated for subsidised bread production. The contracted wheat is scheduled to arrive during the period between 21 March to 1 April.

The ministry pointed out that the agreements, reached under an international tender, include 300,000 tons from Russia for $196.5- $199.3 per ton, in addition to the shipping fees which range from $10.85 to $11.25 per ton.

The agreement also includes 60,000 tons of wheat from Ukraine at a price of $ 195.90 per ton, and the shipping fees at $12.55 per ton. The total cost for the Ukrainian wheat amounts to $208.45 per ton, according to the Egypt’s Aswat Masriya.

Egypt, the world’s largest wheat importer, consumes about 18–19 million tons per year.

Many wheat supply corruption incidents were reported last year, which incurred EGP 533 million. The wheat crisis was firstly erupted following the former supply minister’s resignation.

Egypt intends to deliver local wheat crop in governmentally-owned silos during the next harvest season, in order to avoid supply issues which occurred during the last season.


middleeastmonitor

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