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Gasc Egypt Secures 235,000 Tons of Russian Wheat

According to a statement by the Ministry of Supply and Internal Trade, the General Authority for Supply Commodities, GASC, secured a purchase of 235,000 tons of Russian wheat. 

The quantity will be delivered in two batches; the first batch, 175,000 tons, is set to arrive in Egypt around September 15 to 30, followed by the second batch, 60,000 tons, which is scheduled for October 1 to 15.

Although this is a trade deal with the largest wheat producers, only four trading houses presented offers for GASC, which is a considerably low number of tenders. The reason could be associated with the Ukrainian-Russian unrest.

The Russian ambassador to Egypt praised the remarkable alliance and trade cooperation between Egypt and Russia, in a statement made last June. He also stated that Moscow and Cairo have created a well-established trade framework, especially in wheat trade.

The Egyptian-Russian cooperation has been established for many years. In previous years, Egypt would acquire around 6 million tons of Russian wheat, while this year it is expected to surpass 8 million tons worth of wheat.

Source : Egypt Today