November 9, 2005
Russia 2005-06 wheat exports to Egypt seen 3 million tonnes
Russia's wheat exports to Egypt in the 2005-06 marketing season is likely to increase to 3 million tonnes from 2 million in 2004-05, market analyst APK-Inform said in a report Tuesday.
APK-Inform quoted Nabil Labib, a trader with major Egyptian grain importer Mediterraneo, as saying the Egyptian state importer GASC imported in July-September considerable amounts of Russian wheat, including 330,000 tonnes supplied by Silverstonnee.
Labib said if the current pace of imports continues, GASC's state purchases would amount to 1-1.5 million tonnes of Russian wheat this marketing year.
In addition private Egyptian traders were likely to buy another 1.5-2 million tonnes, Labib said.
Labib also said Russian wheat was most competitive on the Egyptian market at this time in price and quality.
APK-Inform also quoted Diaa Ghaly, a trader with the Egyptian agro holding WADI Holdings, as saying that transportation costs of Russian wheat were smaller than the wheat imported from the US.
Ghaly also said Egyptian importers were trying to diversify their sources of wheat, and Russian exporters, unlike the Americans, were offering small consignments, which suited Egyptian importers better.