{"id":614105,"date":"2024-01-28T00:00:00","date_gmt":"2024-01-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/28\/hedging-is-off-the-table-for-wheat-contracts-el-moselhi\/"},"modified":"2024-01-28T00:00:00","modified_gmt":"2024-01-28T00:00:00","slug":"hedging-is-off-the-table-for-wheat-contracts-el-moselhi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/28\/hedging-is-off-the-table-for-wheat-contracts-el-moselhi\/","title":{"rendered":"Hedging is off the table for wheat contracts - El Moselhi"},"content":{"rendered":"

Egypt has no plans to hedge wheat contracts: <\/strong>Falling wheat prices have made it unnecessary for the government to purchase hedging contracts for the commodity for the coming fiscal year, Supply Minister Ali El Moselhi told Asharq Business<\/a>. <\/p>\n

Makes sense:<\/strong> Hedging contracts are only beneficial when global prices of a commodity are expected to rise, as they lock in the price of future shipments of that commodity. The Oil Ministry last year<\/a> purchased hedging contracts to protect it from soaring oil prices. <\/p>\n

Hedging is still on the table: <\/strong>The government is considering purchasing hedging contracts to guard against expected volatility in the price of certain commodities following disruption in the Red Sea that has upended global supply chains, Assistant Supply Minister Ibrahim Ashmawy said earlier this month<\/a>. <\/p>\n

ALSO- Wheat leaves the EMX:<\/strong> The Supply Ministry has temporarily halted wheat trading on the Egyptian Mercantile Exchange (EMX), \u201cdue to crazed price speculations and bids by some traders,\u201d El Moselhi<\/a> said. The commodity will be back on the EMX once that issue is settled. <\/p>\n

Where do our wheat reserves stand? <\/strong>The country\u2019s strategic reserves of wheat currently stand at 4.2 months, the minister said yesterday<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s strategic reserves of wheat currently stand at 4.2 months<\/p>\n","protected":false},"author":1,"featured_media":614106,"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":[4058,317,6410,72,777,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-614105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities","tag-ali-el-moselhi","tag-commodities","tag-egyptian-mercantile-exchange","tag-enterpriseam","tag-supply-ministry","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"e6e62961-a42a-423a-aae2-b9243afab25b","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/913.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s Supply Ministry doesn\u2019t want to hedge wheat contracts","related_issue":[614093],"teaser":"Egypt\u2019s strategic reserves of wheat currently stand at 4.2 months","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.f6481570-98ae-478f-af4f-f6d5ac6ed078.mp3"},"yoast_head":"\nHedging is off the table for wheat contracts - El Moselhi - 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\/2024\/01\/28\/hedging-is-off-the-table-for-wheat-contracts-el-moselhi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hedging is off the table for wheat contracts - El Moselhi\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s strategic reserves of wheat currently stand at 4.2 months\" \/>\n<meta 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\u201cserious\u201d negotiations with the National Bank of Abu Dhabi (NBAD) and a leading Kuwaiti lender about a wheat hedge that would insulate the treasury from fluctuations in global prices, a top aide to Supply Minister Ibrahim El Ashmawy\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":601047,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/18\/egypt-to-sign-hedging-contracts-for-fy2019-20-in-two-weeks\/","url_meta":{"origin":614105,"position":1},"title":"Egypt to sign hedging contracts for FY2019-20 in two weeks","author":"enterpriseam admin","date":"18 February 2019","format":false,"excerpt":"EXCLUSIVE- Egypt could sign hedging contracts for FY2019-20 in two weeks\u2019 time: The government could sign in as little as two weeks\u2019 time contracts to hedge against the price volatility of fuel, imported wheat and cooking oil, a senior government official told Enterprise. The contracts begin in FY2019-20 to help\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":596528,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/01\/egypt-plans-fuel-hedging-for-fy2019-2020-confirms-hedging-took-place-in-fy2018-19\/","url_meta":{"origin":614105,"position":2},"title":"Egypt plans fuel hedging for FY2019-2020, confirms hedging took place in FY2018-19","author":"enterpriseam admin","date":"1 July 2019","format":false,"excerpt":"Government plans fuel hedging for FY2019-2020, confirms hedging took place in FY2018-2019: Egypt is planning to hedge against rising oil prices for the second year in a row, Finance Minister Mohamed Maait said in an interview last week, Bloomberg reports. 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Exact plans\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":543775,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/17\/9-economic-growth-hedging-wheat-and-privatization-get-air-time-in-pms-presser\/","url_meta":{"origin":614105,"position":4},"title":"9% economic growth, hedging wheat, and privatization get air time in PM\u2019s presser","author":"enterpriseam admin","date":"17 February 2022","format":false,"excerpt":"Egypt\u2019s economy grew at a 9% clip in 1H2021-2022, with 8.3% growth during the second quarter of the current fiscal year, Prime Minister Moustafa Madbouly said at a presser yesterday (watch, runtime: 1:09:38). By comparison, our GDP growth came in at 1.3% in 1H2020-2021, Planning Minister Hala El Said said,\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/240.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567982,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/russia-our-biggest-wheat-supplier-is-mulling-a-grain-tax\/","url_meta":{"origin":614105,"position":5},"title":"Russia, our biggest wheat supplier, is mulling a grain tax","author":"enterpriseam admin","date":"14 December 2020","format":false,"excerpt":"Egypt\u2019s largest wheat supplier is planning to impose a temporary tax and maximum quota on grain exports in a bid to boost local supply and stabilize prices, sources close to Russian government discussions told Reuters. 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