Just in:  

You are here: Home»Market Data»Stocks & Bonds»Egypt may extend tolerance for higher moisture French wheat beyond

Egypt may extend tolerance for higher moisture French wheat beyond

Egypt's state grain buyer the General Authority for Supply Commodities (GASC) is studying an extension of the decision to accept French wheat with higher moisture levels beyond the end of August, the state news agency MENA reported on Sunday. Egypt, one of the world's largest wheat importers, has been accepting French wheat with a moisture level of up to 13.5 percent in its tenders with a penalty paid by traders.

GASC began accepting wheat with elevated moisture levels a year ago having previously set a 13 percent limit. The higher moisture levels in the wheat affect the amount of flour extracted from it. Mamdouh Abdel Fattah, the vice chairman of GASC, told the agency an extension of the exemption was being considered to diversify the origins of wheat that Egypt imports.

Egypt exerts a strong influence over the global wheat market with imports of 10 million tonnes per year, split more or less equally between the GASC and private importers. France is one of Egypt's most important wheat suppliers but had struggled to meet the more stringent moisture limits imposed by GASC.

Egypt's GASC has so far not purchased any French wheat in the financial year 2015/2016 which started July 1.

In the previous year, it imported 1.040 million tonnes of French wheat.

Copyright Reuters, 2015


Index Closing Chg%
Arrow DJIA 17,798.49 0.08
Arrow Nasdaq 5,127.52 0.22
Arrow S&P 2,090.11 0.06
Arrow FTSE 6,375.15 0.28
Arrow DAX 11,293.76 0.24
Arrow CAC-40 4,930.14 0.32
Arrow Nikkei 19,883.94 0.30
Arrow H.Seng 22,068.32 1.87
Arrow Sensex 26,128.20 0.65

Wholesale Camping Equipment from China at 

New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk

Ad Asia 2015

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln