May 11, 2004

Australian Wheat Exporter Signs Grain Deal With Egypt

Australia's wheat exporter has signed an agreement with the Egyptian Government, in a bid to secure annual wheat sales of at least one million tonnes.

AWB Limited and the Egyptian Supply Minister signed the agreement in Canberra yesterday.

AWB's managing director Andrew Lindberg says the agreement also includes possible investment in new grain silos at the Egyptian port of Ain El Sokhna.

He says it could end up being worth at least $200 million a year in wheat sales to Egypt.

"I think that will be a very important development and will, I think, underpin further opportunities to achieve benefits for both parties; but guaranteeing supply and access into a key market like Egypt will be extremely important for Australian wheat farmers going forward."