Egypt’s procurement ministry said in a statement today, Tuesday, that the General Authority for Subjects prime of supply will offer quantities of its grain stocks in sale to the mills through the commodity exchange platform prime.
The press release adds that the Authority will carry out bidding operations twice a week, starting from 27 November.
The General Authority for Commodities Supply will be the selling party of the quantities available, in so that this does not affect the strategic reserve, and Holding Silos will be the obligated party to the delivery.
The ministry said the move is “in in line with the Egyptian state’s policy in regulating commodity markets prime And in compliance with the directives of the political leadership to control and stabilize commodity prices prime in the Egyptian market, and given the repercussions of the Russo-Ukrainian war crisis and its impact on world grain supply, and the Ministry of Supply and Domestic Trade wishes to stabilize prices and activate its market instruments and mechanisms in this regard , and help manage the needs of private sector millers for imported grain in so that this does not affect the prices in the local market.
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