{"id":652134,"date":"2017-01-02T04:06:19","date_gmt":"2017-01-02T04:06:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/02\/egypt-haggles-in-the-wheat-market-manages-to-secure-discounts\/"},"modified":"2017-01-02T04:06:19","modified_gmt":"2017-01-02T04:06:19","slug":"egypt-haggles-in-the-wheat-market-manages-to-secure-discounts","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/02\/egypt-haggles-in-the-wheat-market-manages-to-secure-discounts\/","title":{"rendered":"Egypt haggles in the wheat market, manages to secure discounts"},"content":{"rendered":"

GASC, the world\u2019s largest wheat trader, is flexing its muscles:<\/strong> Egypt\u2019s haggling power in the global wheat market is back in full force, Bloomberg reports<\/a>. The world is overloaded with wheat and Egypt, \u201cbought 235,000 metric tons of wheat in a tender Thursday and managed to pay an average 82 cents a metric ton less than the offers it received<\/strong>, according to people involved in the process.\u201d With last year\u2019s ergot spat ended and confidence in Egypt restored, \u201cthe country has the upper hand as exporters from nations such as Russia scramble to offload record harvests.\u201d Charles Clack, an analyst at Rabobank International explains: \u201cThere are still overwhelming exporter supplies kicking about in the global market and being the No. 1 importer, Egypt is well aware of their strong negotiating position. Traders need a buyer.\u201d What Egypt\u2019s General Authority for Supply Commodities (GASC) also did is announce it was now accepting US hard red winter wheat,<\/strong> which \u201cmay increase competition with top seller Russia, where exports have so far lagged expectations amid a stronger ruble. It may also prompt lower offers in the future from Romania and Argentina, which in last week\u2019s tender sold to Egypt for the first time since February.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

GASC, the world\u2019s largest wheat trader, is flexing its muscles: Egypt\u2019s haggling power in the global wheat market is back in full force, Bloomberg reports. The world is overloaded with wheat and Egypt, \u201cbought 235,000 metric tons of wheat in a tender Thursday and managed to pay an average 82 cents a metric ton less […]<\/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-652134","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"63624961-ca8a-49a1-9d2c-144cabfc6d6f","order":"0","is_powered_by":true,"section_story_id":"8267c7f1-e89d-4a43-a631-6a77472306dc","story_type":"1","photo_url":"","photo_position":"above","related_issue":[652122],"teaser":"","voice_url":""},"yoast_head":"\nEgypt haggles in the wheat market, manages to secure discounts - 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\/2017\/01\/02\/egypt-haggles-in-the-wheat-market-manages-to-secure-discounts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt haggles in the wheat market, manages to secure discounts\" \/>\n<meta property=\"og:description\" content=\"GASC, the world\u2019s largest wheat trader, is flexing its muscles: Egypt\u2019s haggling power in the global wheat market is back in full force, Bloomberg reports. The world is overloaded with wheat and Egypt, \u201cbought 235,000 metric tons of wheat in a tender Thursday and managed to pay an average 82 cents a metric ton less […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/01\/02\/egypt-haggles-in-the-wheat-market-manages-to-secure-discounts\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-02T04:06:19+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\/2017\/01\/02\/egypt-haggles-in-the-wheat-market-manages-to-secure-discounts\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/01\/02\/egypt-haggles-in-the-wheat-market-manages-to-secure-discounts\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt haggles in the wheat market, manages to secure discounts\",\"datePublished\":\"2017-01-02T04:06:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/01\/02\/egypt-haggles-in-the-wheat-market-manages-to-secure-discounts\/\"},\"wordCount\":214,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/01\/02\/egypt-haggles-in-the-wheat-market-manages-to-secure-discounts\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/01\/02\/egypt-haggles-in-the-wheat-market-manages-to-secure-discounts\/\",\"name\":\"Egypt haggles in the wheat market, manages to secure discounts - 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Egypt is looking to import 800k tonnes of wheat, and expects to harvest\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":596924,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/11\/egypts-wheat-imports-decline-by-9-6-in-1h2019\/","url_meta":{"origin":652134,"position":1},"title":"Egypt\u2019s wheat imports decline by 9.6% in 1H2019","author":"enterpriseam admin","date":"11 July 2019","format":false,"excerpt":"Good news for bread subsidy watchers (and bad news for wheat importers) \u2014 wheat imports, prices fall: Wheat imports declined by 9.6% in 1H2019 to 5.7 mn tonnes, the local press reported, citing data from the General Organization For Export & Import Control. Accompanying this drop in imports was a\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":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":652134,"position":2},"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. The news comes after the government looked to shore up its strategic reserves in the wake of threats to the global market from covid-19. GASC accounted\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":571479,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/the-wheat-season-in-the-northern-hemisphere-will-be-a-godsend-for-food-security-in-egypt\/","url_meta":{"origin":652134,"position":3},"title":"The wheat season in the northern hemisphere will be a godsend for food security in Egypt","author":"enterpriseam admin","date":"13 May 2020","format":false,"excerpt":"The wheat season in the northern hemisphere will be a godsend for food security in Egypt: Egypt\u2019s wheat imports could pick up in a couple of months once the harvest season begins in the northern hemisphere and helps to boost global supply, Bloomberg says. The harvest season comes at a\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\/5\/135.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592427,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/06\/egypt-buys-more-russian-wheat-as-moscow-mulls-mates-rates\/","url_meta":{"origin":652134,"position":4},"title":"Egypt buys more Russian wheat as Moscow mulls mates\u2019 rates","author":"enterpriseam admin","date":"6 August 2023","format":false,"excerpt":"Russia is wielding its grain powerhouse status as a political tool","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/210.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544982,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/30\/our-wheat-imports-could-hit-a-nine-year-low-because-of-russia-ukraine\/","url_meta":{"origin":652134,"position":5},"title":"Our wheat imports could hit a nine-year low because of Russia + Ukraine","author":"enterpriseam admin","date":"30 March 2022","format":false,"excerpt":"Egypt\u2019s wheat imports in marketing year (MY) 2022-2023 are expected to drop to their lowest in nine years as the Russia-Ukraine war cuts two of our biggest suppliers off from the export market, the US Foreign Agricultural Service (FAS) said in a report (pdf). 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