Sep 10, 2023
Egypt Allows Recent Wheat Deal to Be Supplied From Any Origin
Bloomberg News
,![A worker unloads sacks of harvested wheat grain from a truck at a government-operated mill in Abu Hammad, Egypt, on Friday, April 28, 2023. Egypt was hard hit by a surge in wheat prices in the immediate wake of Russia’s invasion of Ukraine, sparking a push to pursue new origins., Bloomberg A worker unloads sacks of harvested wheat grain from a truck at a government-operated mill in Abu Hammad, Egypt, on Friday, April 28, 2023. Egypt was hard hit by a surge in wheat prices in the immediate wake of Russia’s invasion of Ukraine, sparking a push to pursue new origins.](/polopoly_fs/1.1969542.1694392295!/fileimage/httpImage/image.jpg_gen/derivatives/landscape_620/a-worker-unloads-sacks-of-harvested-wheat-grain-from-a-truck-at-a-government-operated-mill-in-abu-hammad-egypt-on-friday-april-28-2023-egypt-was-hard-hit-by-a-surge-in-wheat-prices-in-the-immediate-wake-of-russia-s-invasion-of-ukraine-sparking-a-push-to-pursue-new-origins.jpg)
(Bloomberg) -- Crop trader Solaris will be allowed the option to supply a recent private wheat deal to Egypt with grain from any origin, Supply Minister Ali El-Mosilhy said in an interview with Bloomberg.
Solaris has to inform the state-run buyer, the General Authority for Supply Commodities, with the qualities, standards and documents of the new origin in advance as the grain must adhere to the contract criteria, El-Mosillhy said. The company also has to disclose the FOB and CIF prices.
Read also: Trader to Now Ship Romanian Wheat to Egypt After Russian Issue
The minister on Sept. 4 had said that GASC had booked 480,000 tons of Russian wheat in direct negotiations. The Russia wheat purchase was first reported by Reuters.
Egypt in June also made a similar allowance over origins to a trader.
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