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Russia wheat competitive despite minor delays: Egypt

Egyptian state wheat buyer denies financing problems while calling on exporter Russia not to impose tariffs on grain

Reuters, Thursday 20 Oct 2011

Egypt's main state wheat buyer said on Thursday he was not facing any financing issues despite political turmoil and said Russian wheat was still competitive although some shipments had been delayed.

"I don't have a financing problem, as the state until now guarantees the financing for basic goods to the country so I don't feel I have any problems at all," the vice-president of General Authority for Supply Commodities (GASC), Nomani Nomani, said, speaking on the sidelines of a conference in Sharm el-Sheikh.

Nomani said he had faced minor delays with some Russian wheat shipments but that he was compensated for those delays. He also called on Russia not to impose tariffs on Russian grain. He said that Russian wheat remained competitive.

"The difference in price between Russian origin and French, which is the second one in price, is a big difference. It is nearly $18 a tonne (less) based on prices of the last tender," he said.

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