{"id":627249,"date":"2018-07-26T04:21:13","date_gmt":"2018-07-26T04:21:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/26\/egypt-makes-its-most-expensive-wheat-purchase-since-2015\/"},"modified":"2018-07-26T04:21:13","modified_gmt":"2018-07-26T04:21:13","slug":"egypt-makes-its-most-expensive-wheat-purchase-since-2015","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/26\/egypt-makes-its-most-expensive-wheat-purchase-since-2015\/","title":{"rendered":"Egypt makes its most expensive wheat purchase since 2015"},"content":{"rendered":"

<\/a> Thank you, climate change \u2014 Egypt makes its most expensive wheat purchase since 2015: <\/strong>The General Authority for Supply Commodities (GASC) paid an average USD 235.65 per tonne in an international wheat tender which closed on Tuesday<\/a><\/u>, traders told Bloomberg on Wednesday<\/a><\/u>. This was the most expensive wheat purchase Egypt has made since February 2015, and comes amid a drought across Europe and the Black Sea region. \"The major weather issues are actually in Europe and the Black Sea, and those are the major suppliers of wheat to Egypt,\" Michael McDougall, senior vice president at ED&F Man Capital Markets in New York, said. GASC bought 420,000 tonnes of wheat for delivery in 1-10 September. 240,000 tonnes came from Russia, while 120,000 tonnes were bought from Romania and 60,000 tonnes from Ukraine.<\/p>\n

More pain ahead?<\/strong> Russian wheat production is expected to fall for the first time in six years, while crops in France, Germany and the Baltic countries are also expected to be smaller. Benchmark futures traded in the Chicago Mercantile Exchange surged 21% this year and Paris wheat for December delivery hit a record for the contract.<\/p>\n","protected":false},"excerpt":{"rendered":"

Thank you, climate change \u2014 Egypt makes its most expensive wheat purchase since 2015: The General Authority for Supply Commodities (GASC) paid an average USD 235.65 per tonne in an international wheat tender which closed on Tuesday, traders told Bloomberg on Wednesday. This was the most expensive wheat purchase Egypt has made since February 2015, […]<\/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-627249","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"68e5970b-39f8-4497-82ca-ab06461da299","order":"0","is_powered_by":true,"section_story_id":"dac287f6-54aa-4523-8b46-08b68f72d15c","story_type":"1","photo_url":"","photo_position":"above","related_issue":[627236],"teaser":"","voice_url":""},"yoast_head":"\nEgypt makes its most expensive wheat purchase since 2015 - 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\/07\/26\/egypt-makes-its-most-expensive-wheat-purchase-since-2015\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt makes its most expensive wheat purchase since 2015\" \/>\n<meta property=\"og:description\" content=\"Thank you, climate change \u2014 Egypt makes its most expensive wheat purchase since 2015: The General Authority for Supply Commodities (GASC) paid an average USD 235.65 per tonne in an international wheat tender which closed on Tuesday, traders told Bloomberg on Wednesday. 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The\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\/2018\/8\/1179.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":627249,"position":1},"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":627300,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/29\/ing-groep-suspends-credit-for-egypt-wheat-shipments-in-latest-wheat-drama\/","url_meta":{"origin":627249,"position":2},"title":"ING Groep suspends credit for Egypt wheat shipments in latest wheat drama","author":"enterpriseam admin","date":"29 July 2018","format":false,"excerpt":"ING Groep suspends credit for Egypt wheat shipments in latest wheat drama: Egypt is at risk of attracting fewer numbers of offers in its wheat tenders after Dutch lender ING Groep reportedly decided to \u201csuspend lending for wheat shipments sold to [Egypt\u2019s] state-run buyer,\u201d sources familiar with the matter told\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":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":627249,"position":3},"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":[]},{"id":605147,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/23\/egypt-buys-most-expensive-wheat-in-four-years-russia-left-out\/","url_meta":{"origin":627249,"position":4},"title":"Egypt buys most expensive wheat in four years, Russia left out","author":"enterpriseam admin","date":"23 December 2018","format":false,"excerpt":"State grain buyer GASC purchased 120,000 tonnes of wheat at the highest prices in four years during an international tender on Thursday for delivery between 11 and 20 February, according to Reuters. This was the first time in six months that Egypt did not purchase Russian wheat, the newswire highlighted,\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":574560,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/14\/egypt-imports-6-6-mn-tonnes-of-wheat-in-2020-gasc-acquires-51-of-imported-wheat\/","url_meta":{"origin":627249,"position":5},"title":"Egypt imports 6.6 mn tonnes of wheat in 2020, GASC acquires 51% of imported wheat","author":"enterpriseam admin","date":"14 September 2020","format":false,"excerpt":"State grain buyer GASC and private sector firms imported a combined 6.6 mn tonnes of wheat so far this year, the local press reports. 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