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Egypt's GASC says has 6-month wheat supply

State commodities buyer has bought vital grains from local and international sources, according to chairman

Reuters, Wednesday 13 Jun 2012

Egypt's state wheat buyer said on Wednesday it had purchased six months' supply from local and international sources and was looking to issue a new international wheat tender for delivery in the start of August.

Nomani Nomani, vice chairman of the General Authority for Supply Commodities (GASC), told Reuters local purchases would continue "until the last farmer's grain".
He said supplies had reached 3.18 million tonnes by 12 June compared to 2.4 million a year earlier. Purchases could extend beyond 31 July, he added.
Regarding moisture levels for international purchases, he said there was no change in policy: "I want 13 per cent, but if it exceeds by 0.1, 0.2, I immediately get a discount. The maximum is 13.5 per cent ...This has not changed until now."
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