Egypt's GASC says has 6-month wheat supply

Egypt’s GASC says has 6-month wheat supply

Egypt's state wheat buyer said on Wednesday it had purchased six months' supply from local and international sources and was looking to issue a new international wheat tender for delivery in the start of August.

June 13, 2012 5:56 by Reuters

Egypt’s state wheat buyer said on Wednesday it had purchased six months’ supply from local and international sources and was looking to issue a new international wheat tender for delivery in the start of August.

Nomani Nomani, vice chairman of the General Authority for Supply Commodities (GASC), told Reuters local purchases would continue “until the last farmer’s grain”.

He said supplies had reached 3.18 million tonnes by June 12 compared to 2.4 million a year earlier. Purchases could extend beyond July 31, he added.

Regarding moisture levels for international purchases, he said there was no change in policy: “I want 13 percent, but if it exceeds by 0.1, 0.2, I immediately get a discount. The maximum is 13.5 percent …This has not changed until now.”

(Reporting by Shaimaa Fayed; Writing by Edmund Blair; editing by Jason Neely)