First shipment of Egypt’s Russian wheat purchase begins loading after 3-month delay
Updated 12/10/2024 9:06:00 AM
Arab Finance: The first shipment of Egypt’s 430,000-metric-ton purchase of Russian wheat started loading on Saturday, December 6th, three sources with direct knowledge of the matter told Reuters.
The shipment commenced loading following a nearly three-month delay. It consists of 63,000 tons and so far loaded 17,650 tons from the Novorossiysk Grain Processing Plant in Russia.
Meanwhile, the shipment is expected to leave the port this week to arrive in Egypt by the end of the year, the sources revealed.
In September, Egypt’s Ministry of Supply announced that it had secured the wheat through a direct purchase at $235 per ton.
Details of the supplier and payment terms have not been disclosed yet. However, sources informed Reuters it was not related to the Air Force-affiliated Mostakbal Misr, which has taken over responsibility for importing Egypt’s strategic commodities from the General Authority for Supply Commodities (GASC).
Related News
