Supply Minister: Egypt’s strategic grain reserve is sufficient for 5.1 months

Egypt’s procurement minister, Ali Moselhi, said on Sunday that the country’s strategic grain reserve covers 5.1 months of consumption.

The minister added that the strategic reserve of vegetable oils is sufficient for a period of 5.3 months, according to the Middle East News Agency.

The General Authority for the Supply of Goods (the government grain buyer in Egypt) had agreed to replace a seized shipment of Ukrainian wheat with a new shipment weighing 60,000 tons, after weeks of negotiations to release or replace the shipment.

One of the exporters stated that the General Authority for Materials prime will purchase a new shipment of Russian or Ukrainian wheat from the same supplier, Olam, for $ 361.25 per tonne in based on cost and transportation, according to Reuters.

The source added that this is the same agreed price for the original 60,000-ton shipment and the new shipment will be shipped between September 15 and October 15.

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