Egypt struck a deal to import 120,000 tonnes of Russian and Romanian wheat in an international tender, the country's supply ministry said on Tuesday. The imported wheat, bought at an average price $205.76 per tonne, will be delivered starting from June 16. The deal included 60 tonnes of Russian wheat and 60 tonnes of Romanian wheat.
| So Egypt still can't feed itself. It can't pay directly for the imported wheat. It has to rely on the good graces of the UAE and the Saudis. Smart business plan there... |
Also on Tuesday, supply minister Khaled Hanafi told Reuters that the ministry has so far bought about 1.6 million tonnes of local wheat since the current season began in mid-April.
Egypt expects to import around 3.7 million tonnes of local wheat for some 10 billion Egyptian pounds ($1.31 billion) which will ensure it has strategic reserves until the beginning of October. The season for local wheat procurements ends in mid-July. |