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Agriculture April 12, 2021

GASC Might Lower the Purchase Price for Wheat

Возможно, это изображение (текст «14 Egypt's Wheat Imports, 2015-2020 12 10 8 tons million 6 20% 18% 22% 17% 26% 2 53% 42% 60% 70% 23% 49% 2015 2016 Russia 55% 2017 Ukraine US 2018 Romania 2019 Data for Australia France 2020* Source: CAPMAS, Aswaq Financial year 2020 is presented forJanuary-September Argentina Poland Other Africa Journal byIntexpertise facebook.com/IxAfricaJournal»)

This year, the Egyptian state grain buyer GASC (General Authority For Supply Commodities) might lower the purchase price for wheat by approximately USD 6. This is due to the change of payment terms. According to the GASC, deliveries by the new tender announced on April 1st will be paid at sight, while earlier the authority used to pay within 180 days from the date of receipt.

According to the USDA, during the agricultural year 2021/2022 Egyptian consumption of wheat will increase by 2.5% year-on-year, reaching 21.3 million tonnes. At the same time, the import of wheat will slightly rise to 13.2 million tonnes (+1.5%) and national production will remain almost unchanged at 9 million tonnes (+1%).

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