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Monday, 18 July 2016

12 firms offer to supply GASC with wheat, 300k tonnes bought

Twelve trading firms have submitted offers to supply GASC with wheat on Saturday for 21-30 August delivery, Reuters reported. GASC announced on Sunday it bought 300k tonnes of wheat split between 180k tonnes from Romania and 120k tonnes from Russia at an average price of USD 174.99 per tonne. GASC’s latest tender “was held just four days after the GASC purchased [180k] tonnes of Russian and Ukrainian wheat, a rapid return to the market that underscores recent questions over how much wheat is actually in the country’s domestic stocks.” Supplies Minister Khaled Hanafy noted that Egypt’s wheat stocks now last to the end of the year, according to Al Shorouk. Reuters also published an infographic detailing Egypt’s wheat suppliers in FY2014-15 and FY2015-16.

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