{"id":543974,"date":"2022-02-28T03:57:28","date_gmt":"2022-02-28T03:57:28","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/28\/war-in-ukraine-threatens-gascs-latest-tender\/"},"modified":"2022-02-28T03:57:28","modified_gmt":"2022-02-28T03:57:28","slug":"war-in-ukraine-threatens-gascs-latest-tender","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/28\/war-in-ukraine-threatens-gascs-latest-tender\/","title":{"rendered":"War in Ukraine threatens GASC\u2019s latest tender"},"content":{"rendered":"

<\/a> Traders have warned GASC of supply difficulties ahead of today\u2019s wheat tender as <\/strong>conflict rages between major growers Russia and Ukraine<\/strong>, Bloomberg<\/a> reports. Some traders have told GASC they won\u2019t be able to offer Black Sea wheat due to the turmoil triggered by Russia\u2019s invasion of Ukraine, according to anonymous sources. The two Black Sea countries together account for nearly a third of the world\u2019s wheat supply \u2014 and around 80% of supply to Egypt.<\/p>\n

Who are our best alternative suppliers? <\/strong>If Ukraine and Russia remain off the table, we could go for wheat from the US, France, Romania, Kazakhstan, or Germany, Internal Trade Development Authority head Ibrahim Ashmawy told Bloomberg Asharq<\/a>, adding that these countries produce wheat that conforms to Egyptian specs.<\/p>\n

Surging costs + sanctions will likely impact today\u2019s tender.<\/strong> Some traders said they would sit out the tender altogether because of the surging cost of wheat from other countries, rising ins. and shipping costs, and \u201cuncertainty due to the fast-moving changes on sanctions and other restrictions.\u201d Suppliers have reportedly asked some Egyptian traders and agents to switch from Russia\u2019s Sberbank<\/a>, which has been hit by US sanctions.<\/p>\n

Meaning GASC could be forced to cancel again:<\/strong> The authority is \u201cprepared to cancel the tender again if needed,\u201d Bloomberg cited an unidentified person as saying. GASC called off a wheat tender last Thursday<\/a> after receiving only one offer for French wheat.<\/p>\n

We have enough wheat stockpiled to last up to four months<\/strong>, Supply Minister Ali El Moselhy told President Abdel Fattah El Sisi at a meeting yesterday, according to an Ittihadiya statement<\/a>, as the war\u2019s effect on our wheat supplies continues to top the government\u2019s agenda. El Moselhy added that the local wheat production season is set to start in April and the government\u2019s target is to reach 4 mn tons this year, which will help cover Egypt\u2019s needs until the end of this year.<\/p>\n

Minds are focused on making sure state coffers weather the wheat crunch: <\/strong>Prime Minister Mostafa Madmbouly discussed the financing needed to ensure our commodities supplies remain intact in a meeting yesterday with El Mosehly, Central Bank Governor Tarek Amer, Finance Minister Mohamed Maait, and other officials, according to a cabinet statement<\/a>.<\/p>\n

Especially when it comes to subsidized foods: <\/strong>The government is paying a close eye to market prices for subsidized foods, for which the state bears the cost of any increases, Madbouly noted. It\u2019s not yet clear whether the mayhem in the wheat market will impact the government\u2019s plans to taper bread subsidies for the first time in decades. Details on the plan are expected to be announced by the end of next month<\/a>.<\/p>\n

Ramadan reserves:<\/strong> El Sisi also reviewed the status of our strategic commodity reserves and preparations for the approaching month of Ramadan, during which consumption typically spikes. As of this morning, there are 33 days left until the start of the holy month. <\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Traders have warned GASC of supply difficulties ahead of today\u2019s wheat tender as conflict rages between major growers Russia and Ukraine, Bloomberg reports. Some traders have told GASC they won\u2019t be able to offer Black Sea wheat due to the turmoil triggered by Russia\u2019s invasion of Ukraine, according to anonymous sources. The two Black Sea […]<\/p>\n","protected":false},"author":1,"featured_media":543975,"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":[317,72,550,270,98,304,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities","tag-commodities","tag-enterpriseam","tag-gasc","tag-russia","tag-subsidies","tag-ukraine","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"fbfcf412-5b92-49e4-95c5-a9bbc2d70afc","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/2\/384.jpg","photo_position":"above","related_issue":[543968],"teaser":"","voice_url":""},"yoast_head":"\nWar in Ukraine threatens GASC\u2019s latest tender - 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\/28\/war-in-ukraine-threatens-gascs-latest-tender\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"War in Ukraine threatens GASC\u2019s latest tender\" \/>\n<meta property=\"og:description\" content=\"Traders have warned GASC of supply difficulties ahead of today\u2019s wheat tender as conflict rages between major growers Russia and Ukraine, Bloomberg reports. 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The two countries together account for nearly a third of the world\u2019s wheat supply, and some\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\/3\/3.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592427,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/06\/egypt-buys-more-russian-wheat-as-moscow-mulls-mates-rates\/","url_meta":{"origin":543974,"position":1},"title":"Egypt buys more Russian wheat as Moscow mulls mates\u2019 rates","author":"enterpriseam admin","date":"6 August 2023","format":false,"excerpt":"Russia is wielding its grain powerhouse status as a political tool","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\/2023\/8\/210.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545782,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/12\/gasc-is-tendering-again-but-only-for-european-wheat\/","url_meta":{"origin":543974,"position":2},"title":"GASC is tendering again \u2014 but only for European wheat","author":"enterpriseam admin","date":"12 April 2022","format":false,"excerpt":"GASC wants to buy wheat \u2014 but only from European suppliers: State grain buyer the General Authority for Supply Commodities (GASC) issued yesterday a limited tender for an unspecified amount of European wheat, Reuters reported. The tender is open only to European suppliers already accredited in GASC\u2019s tender book, marking\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\/208.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543949,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/27\/fresh-wheat-tender-on-monday-after-war-breaks-out-between-top-suppliers-russia-ukraine\/","url_meta":{"origin":543974,"position":3},"title":"Fresh wheat tender on Monday after war breaks out between top suppliers Russia + Ukraine","author":"enterpriseam admin","date":"27 February 2022","format":false,"excerpt":"State grain buyer issues fresh wheat tender as war in Ukraine threatens supply: State grain buyer GASC will look to buy 55-60k tonnes of wheat in an international tender tomorrow, according to the authority\u2019s website.The bid comes days after GASC called off a wheat tender due to a lack of\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\/2\/368.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":543974,"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":571880,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/03\/egypt-purchases-120k-tonnes-of-ukranian-wheat-in-third-intl-tender-of-local-harvest-season\/","url_meta":{"origin":543974,"position":5},"title":"Egypt purchases 120k tonnes of Ukranian wheat in third int\u2019l tender of local harvest season","author":"enterpriseam admin","date":"3 June 2020","format":false,"excerpt":"GASC purchases 120k tonnes of Ukranian wheat in third int\u2019l tender of local harvest season: State grain buyer GASC, the world\u2019s largest grain buyer, has purchased 120k tonnes of wheat from Ukraine in its third global wheat tender during the 2020-21 local harvest season, including 60k tonnes at USD 210\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\/2020\/6\/26.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\/543974","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=543974"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543974\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/543968"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/543975"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=543974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=543974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=543974"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=543974"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=543974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}