Egypt's GASC purchases 50,000 tons of yellow corn in tender

On Thursday, Egypt's state-owned General Authority for Supply Commodities (GASC) said that it had bought 50,000 tons of Romanian corn in an international tender.

The cargo was sold by Ameropa BV at a price of $339 a tonne on a cost, insurance, and freight (CIF) basis, traders said.

Traders said this was GASC's first-ever international tender for yellow corn.

Supply Minister Ali Moselhy said the corn will be sold to the private sector via Egypt's new commodities exchange in an effort to address a feed shortage and inflation.