{"id":628271,"date":"2018-06-28T03:53:21","date_gmt":"2018-06-28T03:53:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/28\/government-buys-less-domestic-wheat-in-2018-than-it-did-last-year\/"},"modified":"2018-06-28T03:53:21","modified_gmt":"2018-06-28T03:53:21","slug":"government-buys-less-domestic-wheat-in-2018-than-it-did-last-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/28\/government-buys-less-domestic-wheat-in-2018-than-it-did-last-year\/","title":{"rendered":"Government buys less domestic wheat in 2018 than it did last year"},"content":{"rendered":"

Supply Ministry\u2019s domestic wheat purchases fall short of target as 2018 harvest season comes to a close:<\/strong> The Supply Ministry\u2019s domestic wheat buying season ended yesterday with the state having bought 3.15 mn tonnes at a cost of EGP 12 bn, according to a statement<\/a>. That\u2019s significantly short of the ministry\u2019s short of its initial target of 3.5-4 mn tonnes and is also less than the state purchased last year, Reuters\u2019 Eric Knecht notes<\/a>. Private sector mills had bought some of the wheat from local farmers at higher prices than the government price, traders tell the newswire. The private millers capitalized on local wheat as a way to reduce their wheat imports, for which they pay in hard currency. The government\u2019s \u201clower procurement figure means [the General Authority for Supply Commodities] will have to import more wheat from abroad to fill its supply gap.\u201d<\/p>\n

That would explain the int\u2019l wheat tenders taking place: <\/strong>The shortfall in the state\u2019s domestic buying offers an explanation as to why the government had been tapping global wheat markets during the domestic harvest season, which the government had always avoided to prevent mixing of subsidized imported wheat and locally harvest wheat. The government has even amended wheat policies<\/a> of late to encourage traders to bid in global tenders, following the drawn out confusion over zero-tolerance on ergot policy.<\/p>\n","protected":false},"excerpt":{"rendered":"

Supply Ministry\u2019s domestic wheat purchases fall short of target as 2018 harvest season comes to a close: The Supply Ministry\u2019s domestic wheat buying season ended yesterday with the state having bought 3.15 mn tonnes at a cost of EGP 12 bn, according to a statement. That\u2019s significantly short of the ministry\u2019s short of its initial […]<\/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-628271","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"839501e3-6131-4ef4-9154-0f014cb75e5c","order":"0","is_powered_by":true,"section_story_id":"810a0e85-c67f-47df-9b68-1f57684d1bfb","story_type":"1","photo_url":"","photo_position":"above","related_issue":[628252],"teaser":"","voice_url":""},"yoast_head":"\nGovernment buys less domestic wheat in 2018 than it did last year - 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\/06\/28\/government-buys-less-domestic-wheat-in-2018-than-it-did-last-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government buys less domestic wheat in 2018 than it did last year\" \/>\n<meta property=\"og:description\" content=\"Supply Ministry\u2019s domestic wheat purchases fall short of target as 2018 harvest season comes to a close: The Supply Ministry\u2019s domestic wheat buying season ended yesterday with the state having bought 3.15 mn tonnes at a cost of EGP 12 bn, according to a statement. 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UK-based grains trader Gemcorp Commodities Trading is ready to increase the quantities of Russian wheat it ships to African clients, including Egypt, if rainfall helps the new harvest rise to quality requirements, according to Reuters. Bloomberg also has the story. 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