January 18, 2007

Egyptian importers to buy 1.05 million tonnes Kazakh wheat
 

Egyptian wheat importers signed contracts for 1.05 million tonnes of Kazakh wheat worth US$225 million, with the first 60,000 tonnes expected to be delivered Friday, Jan 19, the country's Ministry of Trade and Industry said.

The price for a tonne or the pricing basis has not been disclosed though.

Egypt's main state wheat buyer, the General Authority for Supply Commodities, or GASC, also recently bought Kazakh wheat in a tender from local suppliers.

GASC purchased 110,000 tonnes of Kazakh wheat from Venus International on Jan 4 at US$221.51 a tonne for delivery between Feb 16-Mar 15.

Egypt consumes between 12-13 million tonnes of wheat a year and imports about half of its needs. It is forecast to be the world's largest importer of wheat in 2006-07.