{"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":572553,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/29\/egypt-imports-5-mn-tonnes-of-wheat-in-1h2020\/","url_meta":{"origin":543667,"position":1},"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":640879,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/govt-stepping-up-wheat-purchases-to-account-for-drop-in-private-sectors\/","url_meta":{"origin":543667,"position":2},"title":"Gov\u2019t stepping up wheat purchases to account for drop in private sector\u2019s","author":"enterpriseam admin","date":"6 September 2017","format":false,"excerpt":"Egypt\u2019s grain purchases have \u201csurged\u201d this year, \u201cpartly driven by government efforts to fill a gap left by a shrinking private sector hit by a crackdown on fraud and smuggling,\u201d Reuters reports. Government wheat purchases increased 80% y-o-y for the first seven months and GASC says it aims to buy\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\/2017\/9\/1568.jpg?fit=%2C&ssl=1&resize=350%2C200","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":3},"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":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":4},"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":[]},{"id":545631,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/06\/war-hasnt-dented-growth-in-our-russian-wheat-imports\/","url_meta":{"origin":543667,"position":5},"title":"War hasn\u2019t dented growth in our Russian wheat imports","author":"enterpriseam admin","date":"6 April 2022","format":false,"excerpt":"We imported 24% more wheat from Russia in March than we did the same time last year, buying some 479k tons of Russian wheat last month despite the ongoing war in Ukraine and its impact on the global grain market, Reuters reports, citing freight data.That means nearly 30% of Russian\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\/137.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}]}}