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%).