Egypt raises accepted moisture level for imported wheat

Source:  Financial Post
пшеница зерно
Egypt, often the world’s largest wheat importer, will allow wheat shipments with a moisture level of up to 14% for a year, up from 13.5%, due to current global supply conditions, a trade ministry document seen by Reuters showed on Thursday.Egypt usually sources most of its supplies from Russia and Ukraine, where conflict has disrupted its purchases of relatively cheaper Black Sea wheat and inflated global prices.

The Egyptian government has been working on diversifying its sources of wheat, recently adding India as an accepted wheat import origin.

Increasing the accepted moisture level could potentially encourage more offers in its state grains buyer’s tenders, traders said.“Most of the EU, especially Poland and Baltic wheat, have 14% moisture level in their contracts. That’s why they were not usually offered in tenders,” said one regional trader.

In Egypt’s last wheat purchasing tender in April, German wheat was offered cheapest on a free-on-board basis but was not purchased due to its moisture level.

Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC), typically purchases wheat through international tenders, but the country’s supply minister recently said the cabinet had approved direct purchases from countries or companies.

Egypt was in talks with Australia, Kazakhstan and France for such deals, he said, adding that Cairo had agreed to buy 500,000 tonnes of wheat from India.

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