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Egypt: Waiting till Russian wheat harvest

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Egypt: Waiting till Russian wheat harvest

Egypt's main state wheat buyer said Wednesday that it had postponed any purchase of Russian wheat until the Russian harvest was gathered in July and wanted to ensure the purchases meet Egyptian conditions.

Nomani Nomani, vice chairman of the General Authority for Supply Commodities (GASC), said purchases of Russian wheat "are postponed until their new harvest is in place and until GASC ensures it matches its conditions."

He said the Russian harvest was reaped in July and sales begin in August and that is when GASC could contract for purchases. GASC required that the contracted quantity was from August 2011 season and not before, he said.

"My caution is aimed at getting the best quality of Russian wheat at the most suitable prices," he said, dismissing talk of a ban on Russian wheat and welcoming Russia's return to the market."

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