GASC: Egypt buys 3.3 million Tonnes of Wheat in 7 Months

Big 5

Egypt, the world’s top wheat importer, has bought around 3.3 million tonnes of wheat during the since July 1, the start of the fiscal year, vice chairman of state buyer GASC said.

According to Mamdouh Abdel Fattah – vice chairman of the state-run General Authority for Supply Commodities (GASC) – Egypt has bought those amounts of wheat at a total cost of 6.4 billion Egyptian pounds (US$863.8 million) on the international markets.

The Egyptian top official further referred to Amwal Al Ghad that Egypt’s wheat stocks for its subsidised bread programme would last until mid-May, 2015.

The local wheat harvest in Egypt will begin by mid-April, Abdel Fattah stated, saying it is expected that the state would receive around 3.7 tonnes of wheat.

Egypt 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 programme.