Egypt’s General Authority for Supply Commodities (GASC) has purchased 120,000 metric tons of US wheat to arrive late December.
Vice Chairman of GASC Mahmoud Abdel-Hamid said the authority paid $161.99 per ton for a 60,000-ton shipment of US soft red wheat from Bunge and $148.32 for a 60,000-ton shipment of soft white wheat from Columbia Grain.
As one of the largest wheat importers in the world, Egypt buys seven million tons of the cereal annually, 75 percent of which is purchased from the US. American wheat competes with French, Australian and Canadian products for Egyptian government tenders. — (menareport.com)
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