Egypt purchases 300K tonnes of Russian, Romanian wheat, reserve enough to end-2016

Egyptian ministry of trade and industry purchased 300,000 tonnes of Russian and Romanian wheat in the second global tender among the budget of the new fiscal year 2016-17.

Minister Khaled Hanafy stated Sunday that Egypt purchased 120,000 tonnes of wheat from Russia and 180,000 tonnes of Romanian wheat on a free-on-board basis with a separate freight offer at $174.99 per ton.

Hanafy added that state’s strategic wheat reserve is sufficient to the end of 2016.

Egyptian grain buyer General Authority for Supply Commodities (GASC) announced that the wheat cargos are scheduled to be shipped from 21 to 30 August.