Egypt's GASC says has at least 5 months' worth of wheat stocks

Reuters, Thursday 30 May 2013

State wheat buyer predicts it will have seven months' supply once local harvest season ends

Egypt's main state wheat buyer, the General Authority for Supply Commodities (GASC), said on Thursday it had at least five months' worth of wheat stocks and expected an additional two months' supply once the local harvest season ends.

GASC had gathered 3.2 million tonnes of local wheat up until May 29. Total contracts for imported wheat signed this fiscal year were for 3.375 million tonnes, Mamdouh Abdel Fattah, GASC's vice chairman told Reuters.

Asked about unapproved genetically modified wheat found growing on a farm in Oregon, Abdel Fattah said: "Until now we have no fears. But we will study the Oregon wheat matter and see what the latest developments on it are." 

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