Egypt: Egypt Makes its Largest Wheat Purchase in More than a Decade
On June 30, Egypt's General Authority for Supply Commodities (GASC) purchased 815,000 metric tons (MT) of wheat in a tender from four countries – France, Romania, Russia, and Bulgaria. The tender saw Egypt’s largest single purchase of wheat in more than a decade. Over the past couple of months, Egypt has worked to diversify its wheat import sources, whether through tenders or signing contracts to purchase wheat from several countries. On June 26, GASC announced its purchase of 180,000 MT of Indian wheat. Earlier in the month, Egypt received its first ever shipment of Indian wheat – 61,500 MT purchased by the private sector. The Egyptian economy has shown great resilience in the face of price shocks through its smart fiscal and economic policies, diversification of wheat origins, and engagement in constructive financing cooperation with major international institutions to finance wheat imports.