Egypt’s wheat reserves reach 4½ months
Wheat reserves for Egypt are sufficient for 4½ months with the General Authority for Supply and Commodities (GASC) also purchasing 480,000 tonnes from Russia on Dec. 19, informed country’s state news agency and Supply Minister Aly Moselhy.
GASC, Egypt’s state grains buyer, said that its purchase of Russian wheat in an international tender is composed of 180,000 tonnes for Feb. 1-14 shipment and 300,000 tonnes for Feb. 15-29 shipment.
Perennially among the world’s biggest importers of wheat, Egypt’s consumption is seen rising in 2023-24 by 50,000 tonnes to 20.6 million, which would be the second highest total on record, according to the Foreign Agricultural Service of the US Department of Agriculture. To meet this demand, imports are projected to increase by 7% to 12 million tonnes in 2023-24.
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