{"id":550099,"date":"2022-10-13T03:40:31","date_gmt":"2022-10-13T03:40:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/gasc-will-let-private-mills-buy-its-wheat-to-help-ease-imports-squeeze\/"},"modified":"2022-10-13T03:40:31","modified_gmt":"2022-10-13T03:40:31","slug":"gasc-will-let-private-mills-buy-its-wheat-to-help-ease-imports-squeeze","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/gasc-will-let-private-mills-buy-its-wheat-to-help-ease-imports-squeeze\/","title":{"rendered":"GASC will let private mills buy its wheat to help ease imports squeeze"},"content":{"rendered":"

GASC to sell wheat to struggling private sector: <\/strong>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 flour prices, the Supply Ministry said in a statement<\/a>, amid reports that private mills are struggling to get their wheat purchases out of ports amid the country\u2019s FX shortage.<\/p>\n

The price list:<\/strong> Mills can buy wheat at EGP 8.7k per ton. Pasta makers operating under GASC\u2019s framework will be able to buy flour from the state grain buyer at EGP 10k a ton.<\/p>\n

The Supply Ministry is working with the central bank to secure letters of credit <\/strong>for wheat importers and get their shipments released from ports, the statement reads, saying the move would help stabilize flour and bread prices in the short term.<\/p>\n

Some 700k tons of wheat destined for private sector mills is stuck at ports<\/strong>, Reuters<\/a>reports traders and Egypt\u2019s chamber of cereals as saying. Importers are struggling to find the hard currency needed to get shipments released, says the newswire, leading some 80% of private mills to shut up shop.<\/p>\n

REMEMBER- The government imposed price controls on unsubsidized bread<\/strong> in March<\/a> as a temporary, three-month measure, after war in Ukraine sent global wheat markets spiraling. Wheat prices on the international markets have since cooled, but FX pressures, supply chain snarls, and global monetary tightening have meant food price inflation remains elevated.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 flour prices, the Supply Ministry […]<\/p>\n","protected":false},"author":1,"featured_media":550100,"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":[317,72,2234,550,777,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-550099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities","tag-commodities","tag-enterpriseam","tag-foreign-exchange","tag-gasc","tag-supply-ministry","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"16ac6c38-7486-4ea1-9a9f-24120500c7f9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/10\/218.jpg","photo_position":"above","related_issue":[550082],"teaser":"","voice_url":""},"yoast_head":"\nGASC will let private mills buy its wheat to help ease imports squeeze - 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\/10\/13\/gasc-will-let-private-mills-buy-its-wheat-to-help-ease-imports-squeeze\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GASC will let private mills buy its wheat to help ease imports squeeze\" \/>\n<meta property=\"og:description\" content=\"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. 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hands on state wheat: Bakeries will join the list of private sector players eligible to buy wheat from state grain buyer GASC at EGP 10k per ton, according to a Supply Ministry statement.This is limited for now to bakeries in Greater Cairo, Alexandria and\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543667,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/private-sector-eclipses-gasc-as-egypts-leading-wheat-importer\/","url_meta":{"origin":550099,"position":1},"title":"Private sector eclipses GASC as Egypt\u2019s leading wheat importer","author":"enterpriseam admin","date":"13 February 2022","format":false,"excerpt":"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\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\/164.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578635,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/09\/a-fresh-gasc-tender-for-wheat-backed-by-the-world-bank\/","url_meta":{"origin":550099,"position":2},"title":"A fresh GASC tender for wheat, backed by the World Bank","author":"enterpriseam admin","date":"9 January 2023","format":false,"excerpt":"GASC puts out a fresh international wheat tender: State grain buyer GASC has launched an international tender to purchase 30k-60k tons of wheat on a cost and freight basis for February delivery, according to a GASC statement. Traders need to submit their bids directly to GASC by midday tomorrow.Thanks, World\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\/2023\/1\/114.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":550099,"position":3},"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":578882,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/17\/state-grain-buyer-gasc-is-getting-into-corn-with-first-intl-tender\/","url_meta":{"origin":550099,"position":4},"title":"State grain buyer GASC is getting into corn with first int\u2019l tender","author":"enterpriseam admin","date":"17 January 2023","format":false,"excerpt":"COMMODITIES- State grain buyer GASC is set to launch its first-ever corn tender on 19 January to purchase supplies from international suppliers, according to a Supply Ministry statement. The tender will be financed by the International Islamic Trade Finance Corporation and the corn will be used for feed, the statement\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/278.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556058,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/gasc-hits-up-wheat-market-plasma-act-gets-regs\/","url_meta":{"origin":550099,"position":5},"title":"GASC hits up wheat market + Plasma Act gets regs","author":"enterpriseam admin","date":"10 October 2021","format":false,"excerpt":"State grain buyer GASC buys 240k mt of Russian, Romanian wheat: The General Authority for Supply Commodities (GASC) purchased the grain for shipment in the second half of November at an average price of USD 320.51 per mn tonnes FOB and USD 351.61\/mt CFR, according to Fastmarkets Agricensus. The transaction\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550099","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=550099"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550099\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/550082"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/550100"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=550099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=550099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=550099"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=550099"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=550099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}