{"id":543667,"date":"2022-02-13T04:04:51","date_gmt":"2022-02-13T04:04:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/private-sector-eclipses-gasc-as-egypts-leading-wheat-importer\/"},"modified":"2022-02-13T04:04:51","modified_gmt":"2022-02-13T04:04:51","slug":"private-sector-eclipses-gasc-as-egypts-leading-wheat-importer","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/private-sector-eclipses-gasc-as-egypts-leading-wheat-importer\/","title":{"rendered":"Private sector eclipses GASC as Egypt\u2019s leading wheat importer"},"content":{"rendered":"

<\/a> The private sector was Egypt\u2019s leading wheat importer last year: <\/strong>Private sector wheat imports surpassed purchases by the state-run General Authority for Supply Commodities (GASC) in 2021 \u2014 and could continue to lead Egypt\u2019s wheat imports, Reuters<\/a> reports, citing industry experts.<\/p>\n

In numbers: <\/strong>The private sector imported 6.9 mn tonnes of wheat last year, an 11% y-o-y rise and almost 50% more than GASC, whose imports fell 32% y-o-y to 4.7 mn tonnes, Reuters reports, citing data from the UN\u2019s Food and Agriculture Organization (FAO) and two regional traders. GASC accounted for some 51% of wheat imports in 2020<\/a>, with around 30 private sector companies importing the remainder.<\/p>\n

Subsidy reform could mean that 2021 isn\u2019t an anomaly:<\/strong> \u201cIf GASC wheat purchases decline in the next years as expected due to potential reforms in the subsidy system, a sector of the consumers of the subsidized bread will turn to the free market bread,\u201d FAO Representative in Egypt Nasredin HagElamin told Reuters. The Supply Ministry is working on several scenarios<\/a> that would see the government taper bread subsidies as rising international prices pressure the state budget, with a final decision expected at the end of March.<\/p>\n

Spiraling global wheat prices are squeezing the state purse: <\/strong>The rise in global wheat prices will cost us an additional EGP 12 bn this fiscal year, Finance Minister Mohamed Maait said last month<\/a>. GASC had been allocated some EGP 87 bn in this fiscal year\u2019s state budget. As the world\u2019s biggest importer of wheat, we\u2019re significantly exposed to price hikes that saw the grain trade in 2021 at its highest levels in more than a decade amid the global commodities squeeze. Prices have continued to rise this year on fears<\/a> that major producers Russia and Ukraine could go to war.<\/p>\n","protected":false},"excerpt":{"rendered":"

The private sector was Egypt\u2019s leading wheat importer last year: Private sector wheat imports surpassed purchases by the state-run General Authority for Supply Commodities (GASC) in 2021 \u2014 and could continue to lead Egypt\u2019s wheat imports, Reuters reports, citing industry experts. In numbers: The private sector imported 6.9 mn tonnes of wheat last year, an […]<\/p>\n","protected":false},"author":1,"featured_media":543668,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7305],"tags":[317,72,550,182,98,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities","tag-commodities","tag-enterpriseam","tag-gasc","tag-inflation","tag-subsidies","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"00c7971f-5639-4f29-a2a8-3953167f20be","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/2\/164.jpg","photo_position":"above","related_issue":[543653],"teaser":"","voice_url":""},"yoast_head":"\nPrivate sector eclipses GASC as Egypt\u2019s leading wheat importer - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/private-sector-eclipses-gasc-as-egypts-leading-wheat-importer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Private sector eclipses GASC as Egypt\u2019s leading wheat importer\" \/>\n<meta property=\"og:description\" content=\"The private sector was Egypt\u2019s leading wheat importer last year: Private sector wheat imports surpassed purchases by the state-run General Authority for Supply Commodities (GASC) in 2021 \u2014 and could continue to lead Egypt\u2019s wheat imports, Reuters reports, citing industry experts. In numbers: The private sector imported 6.9 mn tonnes of wheat last year, an […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/private-sector-eclipses-gasc-as-egypts-leading-wheat-importer\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-13T04:04:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/164.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/private-sector-eclipses-gasc-as-egypts-leading-wheat-importer\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/private-sector-eclipses-gasc-as-egypts-leading-wheat-importer\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Private sector eclipses GASC as Egypt\u2019s leading wheat importer\",\"datePublished\":\"2022-02-13T04:04:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/private-sector-eclipses-gasc-as-egypts-leading-wheat-importer\/\"},\"wordCount\":297,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/private-sector-eclipses-gasc-as-egypts-leading-wheat-importer\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/164.jpg?fit=%2C&ssl=1\",\"keywords\":[\"commodities\",\"EnterpriseAM\",\"GASC\",\"inflation\",\"subsidies\",\"wheat\"],\"articleSection\":[\"Commodities\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/private-sector-eclipses-gasc-as-egypts-leading-wheat-importer\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/private-sector-eclipses-gasc-as-egypts-leading-wheat-importer\/\",\"name\":\"Private sector eclipses GASC as Egypt\u2019s leading wheat importer - 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The news comes after the government looked to shore up its strategic reserves in the wake of threats to the global market from covid-19. GASC accounted\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572323,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/21\/egypts-gasc-purchases-240k-tonnes-of-wheat\/","url_meta":{"origin":543667,"position":1},"title":"Egypt\u2019s GASC purchases 240k tonnes of wheat","author":"enterpriseam admin","date":"21 June 2020","format":false,"excerpt":"The General Authority for Supply Commodities (GASC) purchased 240k tonnes of wheat on Thursday from Russia, Romania, and Ukraine, according to Reuters. By our calculations, the Thursday purchase will bring Egypt\u2019s total wheat imports to 840k tonnes, which is higher than the country\u2019s 800k tonne target. Egypt has also purchased\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572553,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/29\/egypt-imports-5-mn-tonnes-of-wheat-in-1h2020\/","url_meta":{"origin":543667,"position":2},"title":"Egypt imports 5 mn tonnes of wheat in 1H2020","author":"enterpriseam admin","date":"29 June 2020","format":false,"excerpt":"Egypt imported 5 mn tonnes of wheat in 1H2020, down 16.6% compared to 6 mn tonnes in the same period last year, the local press reports, citing official data. State grain buyer GASC accounted for a little over half of the imports, while the remainder was imported by private sector\u2026","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572123,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/11\/state-grain-buyer-gasc-has-purchased-120k-tonnes-of-russian-wheat\/","url_meta":{"origin":543667,"position":3},"title":"State grain buyer GASC has purchased 120k tonnes of Russian wheat","author":"enterpriseam admin","date":"11 June 2020","format":false,"excerpt":"State grain buyer GASC purchased yesterday 120k tonnes of Russian wheat, according to Reuters. The shipment will bring Egypt\u2019s total wheat imports during the local harvest season to 600k tonnes, inching the country closer towards its 800k tonne target.","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":550099,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/gasc-will-let-private-mills-buy-its-wheat-to-help-ease-imports-squeeze\/","url_meta":{"origin":543667,"position":4},"title":"GASC will let private mills buy its wheat to help ease imports squeeze","author":"enterpriseam admin","date":"13 October 2022","format":false,"excerpt":"GASC to sell wheat to struggling private sector: State grain buyer GASC will on Saturday start selling wheat to mills producing 72% extraction wheat flour, which is used to make unsubsidized bread, pasta, and other foods. The move will last for one month and comes to prevent a rise in\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/218.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545858,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/14\/gasc-concludes-latest-tender-with-offers-roughly-50-above-pre-war-prices\/","url_meta":{"origin":543667,"position":5},"title":"GASC concludes latest tender, with offers roughly 50% above pre-war prices","author":"enterpriseam admin","date":"14 April 2022","format":false,"excerpt":"GASC has pulled off its first successful wheat tender since Russia invaded Ukraine \u2014 but it didn\u2019t come cheap. The General Authority for Supply Commodities (GASC), Egypt\u2019s state grain buyer, bought 350k tons of wheat from France, Russia, and Bulgaria in its first successful tender since war broke out in\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/244.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=543667"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543667\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/543653"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/543668"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=543667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=543667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=543667"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=543667"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=543667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}