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Egypt wheat stocks to last until 22 June: GASC

Despite Egypt's economic crisis, the state wheat buyer says it is confident it can meet the country's needs

Reuters, Wednesday 30 Jan 2013
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Egypt's state wheat buyer said on Tuesday that it would meet the debt-laden country's needs and did not have financial problems, adding that there were enough stocks to last until 22 June.

Nomani Nomani, vice chairman of the General Authority for SupplyCommodities (GASC), said state wheat stocks of the world's top importer of the grain had been enhanced since early January when they were expected to last until 17 June.

"Providing the country's needs, the Egyptian citizens' needs, is a red line," he told Reuters.

Egypt is facing increasing economic and political instability, with the pound having lost more than a tenth of its value since the 2011 revolution.

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