Egypt Has Almost 7 Months’ Wheat Supply

Egypt’s state wheat buyer said it had purchased 3.7 million tonnes this year, almost seven months’ worth of supplies from local and international sources.

Asked how much Egypt had built to date in strategic stocks, Nomani Nomani, vice chairman of the General Authority for Supply Commodities (GASC), said: “Six months and 25 days”.

GASC bought 3.7 million tonnes this year from the local market, up from 2.6 million tonnes last year, Nomami added.

Reuters