Domestic procurement of wheat in Egypt below last year's

As of June 27, the domestic procurement volumes of wheat in Egypt amounted to 3.15 million tons, which is 12.5% less than last year's indicator (3.6 million tons) and is the lowest in the last few years, APK-Inform writes.

Previously, the Ministry announced plans to purchase from farmers 3.5-4 million tons of wheat of the 2018 crop, the harvesting of which had already been completed.

As expected, due to the low level of wheat procurement in the domestic market, Egypt will be forced to increase grain imports in MY2018/19. USDA experts project that in the next season the country will buy c.12.5 million tons of wheat in the foreign markets.

Reference: on June 26, Egypt purchased in a tender 120 thou. tons of wheat of Russian origin with the delivery from 11 to 20 August 2018. The average purchase price was USD 217.50 per ton C&F.

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