Egypt strikes major wheat supply deal

Egypt’s state grain buyer has struck one of its largest direct wheat agreements, securing monthly supplies from November 2024 to April 2025, sources with direct knowledge of the matter revealed to Reuters.

The deal will see the General Authority for Supply Commodities (GASC) receive approximately 510,000 metric tons of wheat per month, sourced from Black Sea origins, amounting to a total of up to 3.12 million tons over the period.

According to one source, the wheat will be supplied through a joint venture between an Egyptian entity and a major global supplier, although the companies involved remain undisclosed due to the sensitive nature of the deal. This venture had already committed to delivering 430,000 metric tons of wheat to GASC for October shipments, as reported last month.

The price for the wheat will be determined monthly, aligning with market rates at the time of each delivery. However, GASC has not responded to Reuters requests for comment regarding the deal.

This agreement comes as Egypt, the world’s largest wheat importer, continues to secure essential supplies amidst fluctuating global grain markets.

Attribution: Reuters

Subediting: M. S. Salama