Egypt buys 660,000 tons of French, Romanian, Russian, German wheat – minister

Egypt, the world’s biggest importer of wheat, bought 660,000 tons of French, Romanian, Russian, and for the first time German wheat, Supply Minister Ali Moselhy said on Wednesday.

The minister further said in a phone interview with local TV channel that the prices of the shipments ranged between $402 and $406 per ton.

The state grains buyer GASC has recently cancelled a tender due to price hikes as it received offers to buy U.S. and Australian wheat for $480 and $500 per ton, Moselhy added.

He noted that Egypt has strategic wheat reserves sufficient for 7 months. To date, the North African country has purchased a total of around 4 million tons of local wheat, Moselhy said, adding that the local harvest is still ongoing until the end of next August.