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FINANCIAL NEWS
Egypt buys 6-month wheat supply
14 Jun 2012
(MENAFN) Egypt’s General Authority for Supply Commodities (GASC) said it had purchased six months’ supply of wheat from local and international sources, Reuters reported.
The state wheat buyer also unveiled plans to issue new international wheat tender for delivery in the start of August.
Nomani Nomani, vice chairman of GASC said purchases from domestic sources would continue “until the last farmer’s grain”.
Supplies had reached 3.18 million tonnes by June 12 compared to 2.4 million a year earlier, the official said, adding that the purchases could extend beyond July 31.
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