Egyptian company Mostakbal Misr purchased 180,000 tons of French wheat

In April, the Mostakbal Misr Agency agreed with two leading European traders to purchase 180,000 tons of French wheat, Reuters reports citing its own sources. The deal, previously unreported, coincided with French President Macron's visit to Egypt, but the agency could not establish a direct connection between these events. Recall that Mostakbal Misr began conducting international tenders for grain and vegetable oil procurement for Egypt at the end of 2024, replacing the state agency GASC. According to traders, from December 1, Mostakbal Misr delivered 1.1 million tons of wheat to GASC, most of which was purchased from Russian sellers, with the remainder from Egyptian traders and intermediaries. Sources report that Mostakbal Misr purchased two wheat shipments of 60,000 tons each from one trader at a price of $246/ton C&F with immediate payment, and another shipment of 60,000 tons from a second trader at $256/ton C&F with payment in 180 days. Delivery is scheduled for May-June. ...