Egypt bought 120,000 tons of wheat from Romania

GASC, the General Supply Authority from Egypt, an entity in charge with the strategic purchase of wheat on behalf of the Egyptian state, annunced on Wednesday that it had bought 120,000 tons of wheat from Romania at an international auction, according to Reuters.

According to traders, wheat was purchased by Viterra and ADM companies at a price of 255.91 dollars per FOB ton and 272 dollars per ton for C&F prices.

On Monday, GASC officials informed that since the beginning of July to the present day, Egypt imported about 2.140 million tons of wheat, mainly from Russia (1.550 million tons) and Romania (420,000 tons).

Egypt is the biggest world wheat buyer, a basic product needed to maintain the bread subsidy program, on which over 70 million Egyptians depend (out of 103 millions).

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