The government has bought 2 mn tonnes of wheat from local farmers since the beginning of the local wheat harvesting season in mid-April, Supply Minister Ali El Moselhy said, according to Reuters. The plan to import wheat is also moving forward, he says, “the import plan has to continue throughout the year and should not halt just because we are procuring local wheat.” Meanwhile, Bloomberg notes that the US knocked France out of the mix as it won on Wednesday the first government wheat tender in two years.
More from Enterprise
Central Bank of Egypt looks to renew USD 2 bn Kuwaiti deposit as regional conflict stalls FDI conversions
The maturing USD 2 bn deposit is expected to be…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Ceasefire optimism triggers EGX30 rally and EGP recovery
The EGP gained around 2.5% on the greenback by the…
IBF & Company doubles down on logistics with Techno Metal acquisition
Plus: Lucky lands USD 23 mn in Series B round,…