Russian wheat bought by Egypt in September finally on its way

Published Dec 11, 2024

Tridge summary

A shipment of 66,000 metric tons of Russian wheat, out of a total purchase of 430,000 tons by Egypt in September, has finally left the Novorossiysk port after delays, as shown by shipping data. The supply was initially set to be shipped in October, but the delivery dates were later pushed back to November and then December. Egypt's decision to appoint Mostakbal Misr for Sustainable Development as the new state importer of strategic commodities, replacing the General Authority for Supply of Commodities (GASC), might be connected to the delays. Russia has been limiting the involvement of foreign intermediaries in its wheat trade to increase prices, and the shipment has received all necessary phytosanitary certificates. The Egyptian-flagged Wadi Almolouk bulk carrier is expected to arrive at the Egyptian port of El Dekheila by the end of the year with the consignment.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

MOSCOW (Reuters) – A first shipment of 66,000 metric tons of Russian wheat out of a total of 430,000 that Egypt bought in September left the port of Novorossiysk on Tuesday after delays, shipping data from LSEG showed. Egypt’s Supply Ministry said in September that its General Authority for Supply of Commodities (GASC) had contracted 430,000 tons of Russian wheat for shipment in October. Details of the supplier and payment terms were not disclosed. Shipments have been delayed, first to November and then to December. Russia has not made any official comment on the deal, but its Union of Grain Producers and Exporters (Rusgrain), which reflects the government’s line on export policy, said the deal probably involved an unknown intermediary. Since then, Russia has been cracking down on foreign intermediaries in its international wheat trade, introducing informal restrictions to help boost prices for its wheat in both international tenders and direct purchases. The exit of the bulk ...

Source: NoticiasAgricolas