Egypt wheat stock enough until early ’16

Egypt has purchased 180,000 tons of Russian and Romanian wheat with an average price of $200 per ton, Minister of Supply and Internal Trade Khaled Hanafy announced Saturday.

Hanafy added that the strategic wheat stock is sufficient until early January of 2016. Around 60,000 tons were imported from Russia, while the remaining 120,000 tons will come from Romania. The imported wheat will be delivered over 11 days starting from 11 July.
Earlier this month, Tarek Hassanein, head of the Grain Industry Chamber at the Federation of Egyptian Industries (FEI), said the decline in imported wheat this year was due to the abundant supply of wheat from local farmers. He added that the wheat production increased by 1 million tons this year compared to last year.