Egypt's SCZONE eyes deeper investment, port digitalisation ties with Singapore    Egypt's gold prices slip slightly on July 28th    Egypt's Housing Min. reviews HDP marketing plan    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egypt, South Africa pledge to deepen development cooperation at G20 meeting    Egypt's PM orders road maintenance review, tougher penalties to curb accidents    Egypt, Novartis explore expanding collaboration in oncology, cardiology    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    EU, China agree on rare earths, climate but divisions remain on trade, Ukraine    Association of Real Estate Developers seeks urgent meeting over threatened land deallocation on Northwest Coast    Midar partners with Adeer to develop Boulevard project in Mostakbal City with EGP 70bn investment    Iran launches mass deportation of Afghans amid spying allegations    Over 60 million visits recorded under Egypt's Women's Health Initiative since 2019    Culture minister launches national plan to revive film industry, modernise cinematic assets    Thailand, Cambodia clash on new front as tens of thousands flee    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    I won't trade my identity to please market: Douzi    Egypt welcomes 25-nation statement urging end to Gaza war    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    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    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    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.



GASC sets basic commodities tenders' delivery in January
There will be no change in bread subsidy system no matter how much cost country has to bear, says Moeit
Published in Daily News Egypt on 28 - 11 - 2018

Egypt's state grains' buyer, the General Authority for Supply Commodities (GASC), announced the winning bid of Egypt's first international rice buying tender on Tuesday, while it seeks to launch two vegetable oils and wheat international purchasing tenders for delivery in January.
The rice tender will be approved by the Minister of Supply, Ali Moselhy, after testing rice samples that were submitted by the bidders, a source in the ministry told Daily News Egypt. The financial offers of this tender were between $419.7 and $444 per tonne.
GASC's tender was targeting short or medium grain milled white rice of any origin, and asked traders to submit 2 kg samples of their production for testing before approving the bids. All Indian rice samples failed the cooking test, while five Chinese rice samples as well as a Vietnamese rice sample were accepted.
A total of 11 suppliers have submitted samples and offers to GASC for testing since the tender was announced on 18 October. The tender required rice cargoes of at least 25,000 tonnes, + or – 5%, for delivery from January to March.
The samples were tested by a research centre affiliated to the agriculture ministry. Egypt, the most populous country in the Arab world, will need about 500,000 tonnes of imported rice this season as it has reduced local production to save water.
Magdy El Welely, a board member of the grains production division at the Federation of Egyptian Industries (FEI), told DNE that local suppliers are waiting for the agriculture ministry's approval to supply the rice cargoes starting from next January at EGP 8,750 per tonne, instead of EGP 7,500, adding that the traders are ready to supply 28,000 tonnes in January and February.
GASC is also looking to purchase at least 30,000 tonnes of soybean oil and 10,000 tonnes of sunflower oil. The agency will also accept EGP-denominated offers for at least 10,000 tonnes of soybean oil and 5,000 tonnes of sunflower oil for delivery on 10-25 January. The deadline for the offers to be submitted is on Wednesday.
This is the sixth tender for soybean oil and sunflower oil this year. The GASC's last tender was on 21 October, and the lowest offer presented for soybean oil to supply 25,000 tonnes was at $681.20 per tonne, while the lowest offer for sunflower oil was $707 per tonne.
GASC has also purchased 240,000 tonnes of wheat in an international tender last Thursday for delivery between 10-20 January, according to Reuters. The lowest offer was by US-based Cargill, at $221 per tonne.
Egypt is the world's biggest wheat importer as it consumes 100bn of bread loaves annually. The Egyptian people spend EGP 5bn while the government pays EGP 60bn in subsidies for the bakery owners, according to Finance Minister Mohamed Moeit.
In an interview with Ahram newspaper on Saturday, Moeit said there will be no change in "the bread subsidy system no matter how much cost the country has to bear".


Clic here to read the story from its source.