The Egyptian Ministry of Supply said in a statement to Reuters: “The General Authority for Supply Commodities bought 240,000 tons of Russian wheat through direct purchase on August 22.”
The ministry added that the shipments will be shipped from September 20 to October 10, from October 11 to 30, and from October 21 to November 10.
The Supply Commodities Authority is the government’s buyer of grain in Egypt.
Two sources familiar with the matter said the purchase includes six shipments of 40,000 tons each of Russian wheat, which are being sold on the basis of freight rates.
The ministry did not disclose the price, but traders said they believed it was sold at $368 a ton.
The two sources said, “More purchases are still possible while talks are still ongoing.”
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