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Food crisis, Egypt buys 400 thousand tons of wheat

2022-06-08 09:33:58Kosova&Bota SHKRUAR NGA REDAKSIA VOX

Food crisis, Egypt buys 400 thousand tons of wheat

The state buyer of cereals in Egypt, the General Authority for the Supply of Goods (GASC) has completed the international tender for the purchase of 400 thousand tons of wheat.

Wheat was bought at a price of 480 USD / ton from Romania, Russia and Bulgaria. Egypt is one of the largest importers of wheat in the world. The transport of 6 grain ships will take place in the period 20-31 June, 1 -22 July and 1 to 10 August.

Local wholesalers contacted by "Monitor" claimed that the closing of the tender for the purchase of 400 thousand tons of wheat from Egypt is a signal for another increase in the price of wheat in foreign markets. The effects will also be felt in the domestic market. According to them, India's decision to block grain exports due to drought and high temperatures, as well as a 50% reduction in exports from Ukraine due to the war will be the main factors for the price increase.

"Currently the price of wheat in foreign markets is 480 to 485 USD / ton from 220 to 240 USD / ton that was last year, so it is twice as high. The price situation is volatile. Due to the attack on a port in Ukraine prices in foreign markets have risen 40 USD per ton from 440 USD which was the price a few days ago. "It is predicted that in the coming months there will be another increase in prices", stressed one of the wheat wholesalers in the country.

Grinding companies claim that the supply of wheat is not endangered, while adding that the month of July, when the harvest starts, will be decisive for the continuity of supplies.

According to traders, the price of wholesale flour in the country is 8,200 to 8,400 Lekë / kv from 4,400 to 4,500 Lekë / kv which was years (about 90% increase). According to suppliers, the consumption of flour in the country is up to 40% less compared to years due to rising prices. The selling prices of flour in the country for several weeks are set by the Transparency Board.

The increase in the price of wheat started last summer, as a result of the increase in demand and the decrease in supply, due to the not very good harvest and problems with the supply chain. In October 2020, the price of customs cleared wheat, according to the main grinding companies, reached 220 dollars / ton and the price of flour was 48 lek / kg. A year later from the end of September - beginning of October the price of customs cleared wheat reached 340 Dollars / ton and the market price of flour 55 to 58 Lek / kg. The price of customs cleared wheat in the span of 1 year increased by 63%. / monitor


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