CAIRO: Egypt’s state grain buyer, Mostakbal Misr for Sustainable Development, received its first imported wheat shipment on Dec. 30, port data seen by Reuters showed.
The 28,000 metric ton shipment arrived in Alexandria port onboard the Mikhail Nenashev. Further details, including the seller and the price, have not been disclosed.
It is the first shipment for Mostakbal Misr, which took over Egypt’s supply of food commodities in December, replacing the General Authority for Supply Commodities that held the responsibility for decades.
Reuters reported on Dec. 27 that Mostakbal Misr has locked in enough wheat to meet the country’s needs through the end of June, estimated at 1.267 million tons, after cancelling its first attempt to procure wheat and vegetable oil through direct purchase agreements in November due to procedural ambiguities.
Sources said at the time that shipments of the contracted wheat have begun arriving at Egyptian ports, with further deliveries scheduled in coming months.
But a lack of details about timing, pricing, and whether the contracts represent entirely new deals left some traders questioning the size of the deals.
Source: Brecorder
