Another direct wheat purchase?
GASC bought 63k tons of German wheat directly from suppliers on 5 July, Reuters reported Thursday, citing anonymous sources. This is the same day that the state grain buyer was reported to have purchased 444k tons of Russian, French and Romanian wheat without issuing an international tender. The authority typically purchases wheat via tenders, but in May the cabinet gave the go-ahead for the authority to buy directly from suppliers. GASC reportedly purchased the German wheat for USD 420 per ton on a cost and freight basis.
MEANWHILE- Our friends at renewable energy player Infinity along with Hassan Allam Holding and Madkour are reportedly in the running to install a solar power installation at Sharm El Sheikh International Airport. The tender will be finalized in the coming weeks. See this in the context of the greening of Sharm ahead of COP27 — and expect more such announcements in the weeks to come, we think.
Other things we’re keeping an eye on this morning: