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Sunday, 19 November 2017

Only six bidders present wheat offers for GASC in Thursday’s tender

Only six suppliers presented offers in General Authority for Supply Commodities (GASC)’s wheat purchase tender on Thursday, Reuters reported. “Several major trading houses were absent with [traders] saying uncertainty about whether shipments will again be rejected because of Egypt’s food safety inspection system.” Reuters adds that Jean Philippe Everling, CEO of Italian trading house Casillo’s French subsidiary TransGrain, “said concern about ergot was a factor along with delayed payments and continued uncertainty about cargoes being rejected because they contained poppy seeds.” Everling says “people are waiting for a clearer picture.” A court ruling last Tuesday cancelled the cabinet’s decree that allows wheat shipments containing up to 0.05% ergot content, the common international standard.

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