Egypt Buys 1.7 Million Tons of Wheat in 100 Days

Big 5

Egypt, the world’s top wheat importer,  has bought 1.7 million tonnes of wheat on the international market in 100 days since July 1, the start of the fiscal year.

According to Mamdouh Abdel Fattah – vice chairman of the state grain buyer, the General Authority for Supply Commodities (GASC), Egypt has bought those amounts of wheat at a total cost of 3.5 billion Egyptian pounds (US$489.3 million).

The Egyptian official told Amwal Al Ghad that Egypt’s top wheat import markets since July 1st are; Romania, Russia, France, Ukraine, and the United States.

He further added that Egypt’s wheat stocks had increased, to last until March1st, 2015.

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.