Egypt's telecom watchdog to block unregistered spam-call devices Aug. 24    Egypt, Japan sign 12 agreements, LOIs across strategic sectors    Egyptian pound ends Tuesday lower against US dollar – CBE    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt's PM heads to Japan for TICAD 9 Africa development summit    National Council for Childhood reviews plan to combat child labour    Egypt's Supreme Organ Transplant Committee strengthens oversight, standards    African agribusiness market expected to reach $1tr by 2030    Serbia's Vucic vows 'tough measures' against protesters after unrest    Zelenskyy seeks US security guarantees as Trump says he can 'end war now'    Israelis protest for hostage deal amid growing pressure on Netanyahu    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt delivers over 30 million health services through public hospitals in H1 2025    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Traders see quick return of Ukraine wheat to Egypt
Published in Daily News Egypt on 20 - 07 - 2011

HAMBURG: Egyptian state wheat buying agency GASC may allow Ukrainian wheat in its giant purchase tenders by the end of this month, traders said on Wednesday.
"There are indications from GASC that a change is imminent, and there is a growing feeling in the market that Ukrainian wheat will be permitted in the next GASC tender," one trader said.
GASC said last week it was considering adding Ukrainian and Russian wheat to the origins permitted in its purchase tenders, which are among the most competitive in the global grains market.
Egypt, the world's largest wheat importer, removed Ukraine from the origins permitted in its purchase tenders in late 2008 following a series of disputes about quality.
GASC on July 6 permitted Russian wheat to be offered after a gap of almost a year following Russia's export ban last summer.
"The extra competition from Russia allowed Egypt to save almost $4 million week against previous purchases before Russia was permitted," one trader said. "People believe GASC will introduce Ukrainian wheat quickly to put further downward pressure on prices, regardless of whether it is actually bought."
A new tender from GASC is expected in coming days. GASC could not be reached for comment as officials were travelling in Russia for talks with grain suppliers.
"There are still several quality inspection issues still to be resolved with Ukraine," another trader said. "Signals are that GASC requirements for Ukrainian wheat will be the same as Russian, or a minimum 11.5 percent protein content and free of (the fungus) ambrosia."
"I think Ukrainian wheat will not have difficulties in reaching this quality level this season."
Ukraine joined Russia in restricting grain exports last summer after a poor crop. But better harvests this year mean Ukrainian export prices are low. Ukrainian wheat beat Russian in a fiercely contended purchase tender from Lebanon in early June.
"The remaining inspection issues may mean Ukrainian wheat will not be bought at once even if it is included in the next tenders," a trader added. "But the extra competition would be bad news for US and French wheat in coming months."


Clic here to read the story from its source.