The Claps
Egypt is allowing companies to submit bids directly, altering the current policy of only booking cargoes through tenders.
The Deets
The General Authority for Supply Commodities (GASC) issued a limited tender to attract new exporters from Europe. Potential candidates are France, Germany & a number of Eastern European countries.
The change includes referring cheap offers that failed to be selected by GASC to the Ministry of Supply for further consideration.
The Russian Ukrainian war took its toll on the Egyptian wheat reserves, forcing the biggest grain importer to seek other sources.
In related news
Last month, Egypt carried out talks with India to export its needs of wheat, after being advised to resort to other countries after the Russian Ukrainian war by the IMF.
