Traders raising wheat prices for Egypt after state wheat buyer nixes seven cargoes since January: The General Authority for Supply Commodities (GASC) issued preliminary rejections on seven cargoes of the grain since introducing new import rules in January, prompting many traders to raise prices at state tenders, five traders told Reuters. They complain that under the new system the number of rejected cargoes had risen, driving up the cost of doing business. Six of the seven cargoes rejected on arrival were forced to undergo costly fumigation and sieving, which tacked on an additional cost of USD 2.5 per tonne. Not all are complaining, with some suggesting that Egyptian wheat imports will rise next season, after the government streamlined its customs regulation, according to Agrimoney. “Traders are ‘optimistic’ that a new grain inspection system will bring some clarity” to shipping wheat to Egypt, the US Department of Agriculture's Cairo bureau said. The new rules are apparently a welcome change from the confused ergot policy, with traders feeling that dealing with an experienced organization such as GOEIC will be more straightforward, the bureau said.

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