Egypt: Wheat prices rise by 250 pounds per ton in the local market today

Wheat

Egypt

Published Aug 2, 2022

Tridge summary

Today, Tuesday, August 2, 2022, wheat prices witnessed an increase among wholesalers in the local market, to continue their rise for the second day in a row, despite the drop in prices globally on the Chicago Stock Exchange at the beginning of trading. of wheat in Egypt exceeds 7 months, pointing to the success of the measures taken by the state to confront the global crisis, as international institutions believed that Egypt was one of the most threatened countries in this framework. Replacement shipments for shipments originally scheduled from Ukraine were imported from other markets including Romania and France.

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Read also: The Egyptian Company for Wholesale Trade aims to open two retail branches in Safaga and Halayeb Supply: Disbursement of catering courses for the month of August begins tomorrow He pointed out that there is no truth to talk about canceling the supply of 4 shipments of wheat from Ukraine, explaining that there was a tender before the crisis, but the door for approval was not opened for it, and therefore no shipments were determined, and the procedures were not finalized. He added that the only shipment that ended Its procedures amount to 63 thousand tons, and it is present in the port, awaiting shipment when the ports are opened, pointing out that the Ukrainian side made it clear that it would not be able to supply the four shipments that were included in the tender, so it was understood about the difficulty of managing shipments due to the crisis. Wheat futures prices fell at the beginning of trading on Tuesday, the second session of the ...

Source: Amwalalghad