Wheat Reserves Sufficient until mid-July 2015 – Egypt Minister

Egypt’s strategic reserves of wheat are sufficient until mid of next July, the country’s supply minister Khaled Hanafy announced Wednesday.

This comes after Egypt had bought today 120.000 tonnes of wheat from Russia and Romania in a tender for shipment between June 16 and June 26 at an average price of US$205.76 a tonne to produce subsided bread.

The purchased 120.000 tonnes are divided into; 60.000 tonnes of Russian wheat and 60.000 tonnes of Romanian wheat.

The minister expected state’s wheat reserve to be sufficient until next October due to receiving 3.700.000 tonnes of local wheat through current shipment processes.

He noted that Egypt is importing wheat from different countries; Russia, Romania, Canada, France, Argentina, U.S., Ukraine, and others through international stocks by choosing the best offer; best quality and lowest price.

Moreover, Hanafy clarified that all imported wheat amounts are examined by international firms as well as technical committees in Egyptian ports before entering the Egyptian market.