Egypt's new grain buyer, run by the military, is pushing local prices up, traders claim

The decision by Egypt to transfer its wheat import program to an entity affiliated with the military around four months ago was anything but smooth, as local prices have risen and stocks are falling, traders said. Egypt, which is one of the largest wheat importers in the world, relied previously on the General Authority for Supply Commodities to carry out large-scale international bids and secure supplies through long-standing finance agreements.