Egypt’s GASC purchases 300,000 tons of wheat via EMX

Egypt’s state grains buyer GASC has purchased 300,000 tons of wheat through the new Egyptian Mercantile Exchange (EMX) since it launched in November, the exchange head Ibrahim Ashmawy said on Monday.

Last November, GASC said it will be able to make international wheat purchases through the newly launched exchange, which is also aimed at eliminating domestic price distortions.