Egypt believed to have purchased Russian wheat

Egypt’s General Authority for Supply Commodities (GASC) is believed to have booked 80,000 tonnes of Russian wheat, Reuters reported, citing traders.

The purchases included two 40,000-tonne cargoes at a price of $339 per tonne, traders said. The supplier is Grain Flower.

GASC has not made an official announcement of the purchase.

Further approvals may be needed from the World Bank, which is funding purchases from the tender. GASC could book an additional three cargoes from the same supplier in coming days, Reuters said.

GASC was seeking an unspecified quantity of wheat for shipment from Feb. 1-15 from any origin. The wheat will be paid for at sight.