Egypt's GASC says has 6-month wheat supply
Cairo, June 13, 2012
Egypt's state wheat buyer said on Wednesday it had purchased six months' supply from local and international sources and was looking to issue a new international wheat tender for delivery in the start of August.
Nomani Nomani, vice chairman of the General Authority for Supply Commodities (GASC), told Reuters local purchases would continue "until the last farmer's grain".
He said supplies had reached 3.18 million tonnes by June 12 compared to 2.4 million a year earlier. Purchases could extend beyond July 31, he added.
Regarding moisture levels for international purchases, he said there was no change in policy: "I want 13 per cent, but if it exceeds by 0.1, 0.2, I immediately get a discount. The maximum is 13.5 per cent... This has not changed until now." – Reuters
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