{"id":624378,"date":"2018-09-06T03:50:34","date_gmt":"2018-09-06T03:50:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/06\/govt-is-in-talks-with-at-least-one-bank-about-potential-wheat-hedging\/"},"modified":"2018-09-06T03:50:34","modified_gmt":"2018-09-06T03:50:34","slug":"govt-is-in-talks-with-at-least-one-bank-about-potential-wheat-hedging","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/06\/govt-is-in-talks-with-at-least-one-bank-about-potential-wheat-hedging\/","title":{"rendered":"Gov\u2019t is in talks with \u201cat least\u201d one bank about potential wheat hedging"},"content":{"rendered":"<p><strong>The government is already in talks with \u201cat least\u201d one bank over its planned wheat hedging program<\/strong>, an unnamed government <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-09-04\/biggest-wheat-importer-may-turn-to-hedging-after-price-spike?srnd=premium-middle-east\">official tells Bloomberg<\/a>. According to the source, the plan to hedge against volatile global wheat prices is still \u201cin the early stages,\u201d but the news information service notes that introducing such a program would be \u201ca dramatic development\u201d in the global wheat market. If wheat prices stabilize at their current levels, Egypt would spend around USD 3 bn on purchasing the commodity this year alone, according to Bloomberg News estimates. Fees to insure the country\u2019s wheat import needs are estimated at around USD 150 mn. Meanwhile, the <a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/05\/gasc-issues-tender-for-unspecified-amount-of-wheat-for-21-30-october-delivery\/\">wheat tender Egypt launched on Tuesday<\/a> helped global wheat prices inch back up after prices had slid one day earlier on the back of Russia \u201cplaying down the possibility of export restrictions,\u201d <a href=\"https:\/\/www.cnbc.com\/2018\/09\/05\/reuters-america-grains-wheat-steadies-after-slide-as-egypt-tender-watched.html\">according to Reuters<\/a>.<\/p>\n<p><strong>Background:<\/strong> We reported on Monday that the Finance Ministry is looking to initiate a program to hedge against volatility in global wheat prices in a manner similar to its fuel hedging program, as part of a series of initiatives announced by minister Mohamed Maait to keep fiscal spending under control.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government is already in talks with \u201cat least\u201d one bank over its planned wheat hedging program, an unnamed government official tells Bloomberg. According to the source, the plan to hedge against volatile global wheat prices is still \u201cin the early stages,\u201d but the news information service notes that introducing such a program would be [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-624378","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"b23e7ad4-2cb6-4115-84d0-97754444f115","order":"0","is_powered_by":true,"section_story_id":"7768b586-b40f-4f99-b296-84315aaee3dc","story_type":"1","photo_url":"","photo_position":"above","related_issue":[624362],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gov\u2019t is in talks with \u201cat least\u201d one bank about potential wheat hedging - 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\/2018\/09\/06\/govt-is-in-talks-with-at-least-one-bank-about-potential-wheat-hedging\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t is in talks with \u201cat least\u201d one bank about potential wheat hedging\" \/>\n<meta property=\"og:description\" content=\"The government is already in talks with \u201cat least\u201d one bank over its planned wheat hedging program, an unnamed government official tells Bloomberg. According to the source, the plan to hedge against volatile global wheat prices is still \u201cin the early stages,\u201d but the news information service notes that introducing such a program would be [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/06\/govt-is-in-talks-with-at-least-one-bank-about-potential-wheat-hedging\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-09-06T03:50:34+00:00\" \/>\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\/2018\/09\/06\/govt-is-in-talks-with-at-least-one-bank-about-potential-wheat-hedging\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/06\/govt-is-in-talks-with-at-least-one-bank-about-potential-wheat-hedging\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Gov\u2019t is in talks with \u201cat least\u201d one bank about potential wheat hedging\",\"datePublished\":\"2018-09-06T03:50:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/06\/govt-is-in-talks-with-at-least-one-bank-about-potential-wheat-hedging\/\"},\"wordCount\":205,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/06\/govt-is-in-talks-with-at-least-one-bank-about-potential-wheat-hedging\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/06\/govt-is-in-talks-with-at-least-one-bank-about-potential-wheat-hedging\/\",\"name\":\"Gov\u2019t is in talks with \u201cat least\u201d one bank about potential wheat hedging - 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The General Authority for Supply Commodities (GASC) yesterday purchased 180k tonnes of\u2026","rel":"","context":"In &quot;Commodities&quot;","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/284.jpg?fit=%2C&ssl=1&resize=350%2C200","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":624378,"position":1},"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. This comes two weeks after a government source told the\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/661.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":622918,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/16\/wheat-hedge-talks-still-in-the-early-stages\/","url_meta":{"origin":624378,"position":2},"title":"Wheat hedge talks still \u201cin the early stages\u201d?","author":"enterpriseam admin","date":"16 October 2018","format":false,"excerpt":"** #5 Wheat hedge talks still \u201cin the early stages\u201d? Egypt\u2019s talks with international banks about a potential hedge against volatility in global wheat prices are not that advanced and remain \u201cin the early stages,\u201d an unnamed government source said yesterday, Reuters reports. The source downplayed the progress the government\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":622814,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/14\/egypt-in-advanced-talks-over-wheat-hedging-contracts\/","url_meta":{"origin":624378,"position":3},"title":"Egypt in advanced talks over wheat hedging contracts","author":"enterpriseam admin","date":"14 October 2018","format":false,"excerpt":"EXCLUSIVE- Egypt in advanced talks on wheat hedge: Egypt is currently in \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 &quot;Speed Round&quot;","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":624378,"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 &quot;Economy&quot;","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":542937,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/were-spending-a-whole-lot-more-on-wheat-and-events-in-ukraine-could-bump-up-spending-even-more\/","url_meta":{"origin":624378,"position":5},"title":"We\u2019re spending a whole lot more on wheat \u2014 and events in Ukraine could bump up spending even more","author":"enterpriseam admin","date":"25 January 2022","format":false,"excerpt":"Spiraling wheat prices land us with an EGP 12 bn check: The rise in global wheat prices will cost us an additional EGP 12 bn this fiscal year, Finance Minister Mohamed Maait yesterday told Bloomberg Asharq. State grain buyer GASC had been allocated some EGP 87 bn in this fiscal\u2026","rel":"","context":"In &quot;FOOD SECURITY&quot;","block_context":{"text":"FOOD SECURITY","link":"https:\/\/enterpriseam.com\/egypt\/category\/food-security\/"},"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\/624378","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=624378"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/624378\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/624362"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=624378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=624378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=624378"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=624378"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=624378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}