Egypt’s GASC Buys 235.000 Tonnes of Russian, Romanian and Ukrainian Wheat

Egypt’s state-run General Authority for Supply Commodities (GASC) has bought 235.000 tonnes of Romanian, Russian and Ukrainian wheat for shipment September 01-10, at total cost of $421 million.

The tender is the second to sign as pursuant to the country’s budget for the fiscal year 2014/2015.

Of the total, GASC bought 120.000 tonnes of Russian wheat, 60.000 tonnes of Romanian wheat, 55.000 of Ukraine’s at average price of $256.66 a tonne, said Minister of Supply Khaled Hanafy.

Accordingly, Egypt’s strategic stocks of domestic and imported wheat are sufficient to last for six coming months, the minister told Amwal Al Ghad on Thursday.

Egypt is the world’s largest wheat importer, which usually purchases around 10 million tons of wheat per year from international markets and uses a mixture of domestic and imported wheat for its subsidised bread program.