Egypt’s GASC Directly Purchases 300,000 Tonnes of Russian Wheat

Egypt’s state grains buyer, the General Authority for Supply Commodities, is believed to have bought 300,000 tonnes of Russian wheat via private talks, traders said on Wednesday.

Last week, GASC also bought 280,000 tonnes of Russian wheat via direct purchases, a few days after cancelling its first international wheat tender since July, citing high prices.

This year Egypt has been opting to buy wheat through private talks with traders instead of through tenders, with the supply minister saying in September that the option offered more attractive prices.

Tags: Russia, Egypt, wheat