07262016Tue
Last update: Tue, 26 Jul 2016 03pm

Middle East & Africa

Markets - Commodities - Middle East & Africa

Blumberg Grain to sign wheat silos deal with Algeria in weeks DUBAI: Blumberg Grain is looking to sign a deal within the coming weeks with Algeria's state grain agency OAIC to build high-tech wheat silos that can store up to 1 million tonnes of the grain. "We are looking to sign something within the next few weeks, before the start of Ramadan," David Blumberg, CEO of Blumberg Grain Middle East and North Africa, told Reuters on the sidelines of the Global Grain conference in Dubai.The new storage facilities would help to lower post-harvest losses, that waste around 20 percent of Algeria's local wheat.Blumberg Grain has finished building silos to store over 770,000 tonnes of wheat in neighbouring Egypt and is awaiting the award of a second phase of that project which will allow it to handle that country's entire crop by 2018."The design in Algeria will be different from the ones in Egypt as in Egypt they don't have the capability ...

Markets - Commodities - Middle East & Africa

Iraq again extends deadline in 50,000 tonne wheat tender HAMBURG: Iraq's state grains board has again extended the offer deadline in a tender to buy at least 50,000 tonnes of hard wheat with offers now remaining valid until Wednesday, May 18, European traders said on Tuesday. No purchase was believed to have been made yet, they said.The tender had originally closed on May 8 with offers initially remaining valid up to May 12, but offer validity was then extended to Monday, May 16.US-origin wheat ...

Markets - Commodities - Middle East & Africa

Egypt to buy 1 million tonnes local rice as reserve ABU DHABI: Egypt's supply ministry said on Monday that it would buy 1 million tonnes of local paddy rice in the next month as a strategic reserve. The government's failure to stock up earlier this season has left it at the mercy of traders, some of whom have been unwilling to sell their rice to the state in an attempt to push prices up.The government will start buying up the paddy rice next month when ...

Markets - Commodities - Middle East & Africa

Egypt has bought 1.8mn T of local wheat since April 15 CAIRO: Egypt has bought 1.8 million tonnes of domestic wheat since the start of the procurement season on April 15, a Cabinet statement said on Wednesday.Egypt, the world's largest wheat importer, plans to buy 4 million tonnes of Egyptian wheat in the 2016 season. The agriculture ministry has said all necessary precautions had been taken to avoid sales of cheaper imported wheat to the government falsely labelled as Egyptian wheat. Last season the government bought ...

Markets - Commodities - Middle East & Africa

Egypt sets price for local cotton and corn crop CAIRO: Egypt said on Tuesday it will pay 1,250 Egyptian pounds ($140.77) per qintar (160 kg) for its cotton, a small drop from the 1,300 offered last year, and 2,100 pounds per tonne for yellow corn.Egypt predominantly grows a high-quality and extra-long staple cotton, once known as "white gold", but output has been shrinking for years. The agriculture ministry said the cabinet had approved a price of 1,250 pounds for the Giza 86 and Giza ...

Markets - Commodities - Middle East & Africa

Egypt has bought 1.6mn T of local wheat since April 15 CAIRO: Egypt bought 1.6 million tonnes of domestic wheat since the start of the procurement season on April 15, the supplies minister said on Tuesday. Egypt, the world's largest wheat importer, plans to buy 4 million tonnes of Egyptian wheat in the 2016 season. The agriculture ministry has said all necessary precautions had been taken to avoid sales of cheaper imported wheat to the government that had been falsely labelled as Egyptian wheat. Last season ...

Markets - Commodities - Middle East & Africa

Egypt aims to produce 9mn tons of wheat in 2016: agriculture ministry CAIRO: Egypt aims to produce 9 million tonnes of wheat in 2016, an agriculture ministry spokesman told Reuters on Monday.State television earlier quoted the agriculture minister as saying Egypt aimed to receive 9 million tonnes of wheat from local farmers. The spokesman said the minister was talking about the amount Egypt would produce and not the amount the government planned to procure locally, which is 4 million tonnes.Copyright Reuters, 2016 ...