Business | Markets
Egypt buys 145,000 tonnes of wheat
Egypt, the world's largest wheat importer, bought 145,000 tonnes of the grain at a tender for delivery from August 16 to 31 at prices ranging between $321 per tonne to $337 per tonne on a cost and freight basis.
- Bloomberg
- Published: 23:16 July 18, 2008
Cairo: Egypt, the world's largest wheat importer, bought 145,000 tonnes of the grain at a tender for delivery from August 16 to 31 at prices ranging between $321 per tonne to $337 per tonne on a cost and freight basis.
The government purchased 25,000 tonnes of Ukrainian wheat from local trader Horus at $321 per ton, 60,000 tonnes of Russian wheat from Aston at $326 per tonne and 60,000 tonnes of US or Canadian soft red winter wheat from Venus International at $337 per ton, Nomani Nomani, undersecretary of Trade and Industry, said in Cairo yesterday.
Egypt imported 7 million tonnes of wheat last year, or half its annual consumption. It is forecast to import 7.8 million tonnes this year, according to the US Department of Agriculture.
The government bought 2.4 million tonnes of wheat from local farmers since the season began on April 1, compared with 1.8 million tonnes in the previous year, the government said July 3.
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