CAIRO: Egypt will import 120,000 tons of Russian and French wheat at an average of $211.6 per ton after Cairo published a request for tenders, according to a Thursday Ministry of Supply statement.
The delivery will begin Dec. 11 and continue for 10 days; half the amount will be imported from Russia and the other half from France.
The wheat will secure the strategic reserve of the grain to provide subsidized bread flour at 25,000 bakeries across the country, where citizens buy the bread with ration cards.
Part of the amount will also go to the private sector at the lowest price possible to reflect a low price offered to consumers, according to the statement.
General Authority for Supply Commodities imports wheat from different countries through global stock markets; Egypt has previously imported wheat from Romania, Canada, Argentina, Ukraine and the U.S, the statement added.
Egypt is the world’s largest wheat imported, with traditional bread being a staple in Egyptian meals. It has imported tons of wheat in the past few months to secure subsidized bread and to prevent high prices offered by the private sector over wheat-based production.
It also announced establishing several wheat silos to prevent the loss of tons of local wheat every year.
In September, Egypt and Italy signed an agreement to build 10 horizontal silos at a capacity of 500,000 tons of wheat yearly and a cost of $17 million over two years, according to the official website of Cairo governorate.
In August, the Arab Contractors announced it is set to build 15 wheat silos in 11 governorates at 2.2 billion EGP in a span of some 18 months with the United Arab Emirates providing 1.6 billion EGP of the total cost.