CAIRO: Egypt’s General Authority of Supply Commodities (GASC) has signed contracts to import 60,000 tons of wheat from France,Youm7 reported Thursday.
The average price of the purchased quantities including shipment fees is estimated at $189.20 per ton, and they will be shipped during the period from April 25 to May 5, said GASC deputy head Mamdouh Abdel Fatah.
The wheat was purchased through an international tender and will be used mainly to produce subsidized bread, said Abdel Fatah.
The shipment will be examined upon arrival at Egyptian ports by international audit firms and the supply ministry’s technical committee, in order to make sure it conforms to the terms of the contract, he added.
In its most recent tender on March 16, GASC bought 240,000 tonnes of wheat from France, Romania and Ukraine for April 15-24 shipment.
Egypt’s strategic wheat reserves are enough to last until the start of June 2016, Supply Minister Khaled Hanafy stated Feb. 20.
In a Wednesday interview with Reuters, Hanafy said that “Egypt is close to eradicating graft in its strategic sector.”
Egypt remains the world’s largest wheat importer, according to Food and Agriculture Organization of the United Nations (FAO.) The global organization said that Egypt’s wheat imports for 2015-2016 are “estimated at 11 million tons, about the same as the previous year and the average for the last five years.”