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FINANCIAL NEWS
Egypt to issue wheat tender in 2 to 4 weeks
28 Oct 2013
(MENAFN) The Egyptian supplies minister said that his country is planning to issue a wheat tender in the next two to four weeks to ensure its supplies last until April next year, The Peninsula Qatar reported.
About 10 million tons of wheat are purchased annually by government and private buyers in Egypt. The General Authority for Supply Commodities (GASC) buys over 50 percent of the annual wheat purchased by the country.
GASC purchased 2.205 million tons of wheat from suppliers in Romania, Ukraine and Russia since the beginning of the 2013-2014 fiscal year that started on July 1 and is planning to buy an additional 5 to 5.5 million tons for the rest of the year.
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