January 21, 2010

Egypt's GASC wheat imports to reach 1.15 million tonnes

Egypt's state-run General Authority for Supply Commodities (GASC) is likely to import close to 1.15 million tonnes of wheat from January to June 2010, compared with 3.85 million tonnes during July-December 2009.

Imports are likely to be lower during this half of the financial year because the local harvest is due during April and May, Economic Researcher, Ministry of Trade and Industry, Gamal M. Abdel Latief said.

He said GASC's total imports during 2009-10 are likely to be little changed on-year at around 5 million tonnes.

Egypt, the world's largest wheat importer by volume, buys around 7-8 million tonnes each year, the bulk of which is purchased by the GASC and the rest by the private sector.

Its domestic annual consumption is close to 15.5 million tonnes.