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Agriculture: Egypt buys 240,000 tons of wheat from France, Romania and Russia
GASC from Egypt bought 240,000 tons of wheat from France, Romania and Russia on Wednesday, with delivery term between 21 and 31 December, according to Reuters. GASC vice-president Mamdouh Abdel Fattah, said that French wheat represented half of the wheat quantity bought at the auction organized on Wednesday, to which they added 60,000 tons from Romania and 60,000 from Russia. GASC bought wheat at the price of 205.94 dollars per ton, C&F.
It is for the second time over a month when Egypt prefers to buy a large quantity of wheat from France and other countries. On October 30, Egypt bought 120,000 tons of wheat from France and 60,000 tons from Romania and the same quantity from Poland. In November euro depreciated against the dollar which increased the attractiveness of French wheat.
GASC is responsible for strategic wheat purchases on behalf of the Egyptian state, the largest world importer of wheat. Since the beginning of the fiscal year 2015/2016, Egypt has bought about 2.6 million tons of wheat, the main supplier being Russia and Romania.