{"id":640088,"date":"2024-08-20T00:00:00","date_gmt":"2024-08-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/govt-still-on-track-to-secure-3-8-mn-tons-of-wheat-by-years-end-says-supply-minister\/"},"modified":"2024-08-20T00:00:00","modified_gmt":"2024-08-20T00:00:00","slug":"govt-still-on-track-to-secure-3-8-mn-tons-of-wheat-by-years-end-says-supply-minister","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/govt-still-on-track-to-secure-3-8-mn-tons-of-wheat-by-years-end-says-supply-minister\/","title":{"rendered":"Gov\u2019t still on track to secure 3.8 mn tons of wheat by year\u2019s end, says supply minister"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Government is dead set on its massive wheat buy: <\/strong>The government will announce the purchase of 3.8 mn tons of wheat before the end of the year, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/egypt-economy\/2024\/08\/19\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B7%D8%A7%D9%84%D8%A8-%D8%A8%D9%85%D8%B9%D8%A7%D9%85%D9%84%D8%A9-%D8%AA%D9%81%D8%B6%D9%8A%D9%84%D9%8A%D8%A9-%D9%81%D9%8A-%D9%88%D8%A7%D8%B1%D8%AF%D8%A7%D8%AA-%D8%A7%D9%84%D9%82%D9%85%D8%AD\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> quotes Supply Minister Sherif Farouk as saying. The purchase may involve direct cooperation with a foreign government, Farouk added. This comes a week after the government\u2019s largest wheat tender to date fell short of its target and follows reports that it is currently in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b829ddbb-1767-4eb3-b38f-d9121dae41ce\/\" style=\"\" rel=\"noopener\">discussions<\/a> to purchase up to 1.8 mn tons of wheat from international suppliers through direct orders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>State grains buyer GASC last week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c7d5003c-c3c1-41a8-94b0-e1233f99cb4a\/\" style=\"\" rel=\"noopener\">purchased 280k tons of wheat<\/a> in a tender that aimed to secure some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21340043-4153-493c-b299-be6b09b9e480\/our-biggest-wheat-tender-to-date\" style=\"\" rel=\"noopener\">3.8 mn tons<\/a>, locking in just c. 7% of its target. The tender was launched to capitalize on a dip in wheat prices, seeking to procure nearly a third of the country\u2019s yearly requirement of the grain. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Imports from Turkey could help fill the gap: <\/strong>GASC is looking into importing wheat from Turkey and is exploring other sources, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/financial-markets\/51482\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%A8%D8%AD%D8%AB-%D8%A7%D8%B3%D8%AA%D9%8A%D8%B1%D8%A7%D8%AF-%D8%A7%D9%84%D9%82%D9%85%D8%AD-%D9%85%D9%86-%D8%AA%D8%B1%D9%83%D9%8A%D8%A7\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing GASC Deputy Chairman Hossam El Garhy. However, Turkey is not a major wheat exporter and still needs to import 8-9 mn tons annually to cover its own needs, a GASC wheat supplier told Enterprise. Egypt imported a meager c. 7.1k tons of wheat from Turkey over the first seven months of the year \u2014 compared to none during the same period last year \u2014 a source at the Supply Ministry told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re hoping to get special treatment: <\/strong>Egypt should be granted preferential payment terms and prices on its wheat imports seeing as it is the world\u2019s largest importer of the grain, Al Arabiya quoted Farouk as saying. However, a GASC supplier told Enterprise they questioned whether this is possible because Egyptian wheat tenders immediately impact global prices once they are launched.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pulse check on the country\u2019s strategic reserves: <\/strong>Egypt has a 6.3-month supply of strategic wheat reserves, El Garhy said. The Supply Ministry aims to bolster these reserves to cover more than nine months of consumption, Supply Minister Sherif Farouk told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1825476600927781291\" style=\"\" rel=\"noopener\">Asharq Business<\/a> separately.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GASC is looking into importing wheat from Turkey<\/p>\n","protected":false},"author":1,"featured_media":640089,"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":[317,72,550,777],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-640088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities","tag-commodities","tag-enterpriseam","tag-gasc","tag-supply-ministry","wpautop","entry"],"acf":{"mongo_id":"0162d03a-6ea9-4768-a144-65b72b781d31","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1707.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian gov\u2019t still on track to secure 3.8 mn tons of wheat by year\u2019s end, says supply minister","related_issue":[640078],"teaser":"GASC is looking into importing wheat from Turkey","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.24302c16-71f6-49e2-a9e2-6e45afe7bdb4.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The buy marks GASC\u2019s second direct purchase from Russia in as many weeks, as the state appears to pivot away from public tenders after\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\/2022\/9\/109.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547655,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/03\/gasc-makes-huge-wheat-buy-world-bank-approves-usd-500-mn-loan\/","url_meta":{"origin":640088,"position":2},"title":"GASC makes huge wheat buy + World Bank approves USD 500 mn loan","author":"enterpriseam admin","date":"3 July 2022","format":false,"excerpt":"State makes its biggest wheat buy in a decade as futures dip: State grain buyer GASC last week purchased 815k tons of wheat for shipment in August, September and October, state news agency MENA reports, citing the authority. The purchase of French, Romanian, Russian, and Bulgarian wheat in last Wednesday\u2019s\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\/2022\/7\/78.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":640088,"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 &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\/2022\/4\/208.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":587446,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/28\/gasc-defers-wheat-payments-amid-fx-crunch-supply-minister-traders\/","url_meta":{"origin":640088,"position":4},"title":"GASC defers wheat payments amid FX crunch: supply minister, traders","author":"enterpriseam admin","date":"28 May 2023","format":false,"excerpt":"As many as 11 wheat cargoes are awaiting payment, according to traders","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\/2023\/5\/1455.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":640088,"position":5},"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. 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