Egyptian Prime Minister held a meeting on wheat purchases

On Monday, Egyptian Prime Minister Mostafa Madbouly held a meeting to assess the country’s efforts to purchase wheat without the participation of Egypt’s main state grain buyer.

However, among those present was Brigadier General Bahaa El Ghannam, executive director of Mostakbal Misr, a sustainable development agency that has recently begun to play an important role in Egypt’s wheat procurement and has been seen as “sidelining” the General Authority for Supply of Commodities (GASC).

The meeting followed Mostakbal Misr’s decision to refrain from purchasing during a meeting with potential suppliers for wheat and oil purchases last Thursday. The agency’s direct procurement strategy, unveiled late Wednesday night, is a departure from the traditional tender system run by GASC.

During the meeting, El Ghannam spoke about measures to “diversify wheat sources and expand local production,” according to a statement from the cabinet.

However, traders remain wary of the transparency and implementation of Mostakbal Misr’s direct procurement model, especially after last Thursday’s surprise price request.

Mostakbal Misr, established in 2022 by presidential decree and overseen by the Egyptian Air Force, has quickly moved from land development projects to a broader role that includes procurement of goods.

Tags: Egypt, tender, grain, wheat, imports, edible oils