09.12.2024, 20:13
Egypt has notified Russia of a change in the procurement scheme for Russian wheat
Source: OREANDA-NEWS
OREANDA-NEWS The Union of Grain Exporters and Producers has received an official notification about Egypt's change in the procurement scheme for wheat and other agricultural products.
As Chairman of the Board of the union Eduard Zernin told Interfax, in a letter from the Ministry of Supply and Internal Trade of Egypt addressed to the head of the Ministry of Agriculture of Russia Oksana Lut, which is available to the union, it says that the Egyptian agency for sustainable development Mostakbal Misr is the only state agency with exclusive authority to organize international tenders and direct purchases of wheat and other food products for the needs of Egypt.
Mostakbal Misr exercises all the powers previously exercised by the Egyptian State Agency for Food Procurement (GASC) and allows all GASC-accredited suppliers of grain and other food products to participate in tenders or direct purchases, the letter says. The Ministry of Supply and Internal Trade of Egypt also confirmed the authority of Mostakbal Misr officials to make transactions within the framework of tenders or direct purchases and guaranteed the availability of financial opportunities to fulfill all obligations to companies that won the tender or participated in direct purchases, as well as faithfully fulfilled their delivery obligations.
"Now we can definitely say about the end of the era of GASC, until recently the largest importer of wheat and other basic agricultural products, one of the main market makers of the global grain market," Zernin said. "We hope that Mostakbal Misr will not only take the accumulated experience of GASC as a basis, but also improve it taking into account the capabilities and technologies of today."
"Russian grain exporters are ready to share their experience and best industry practices with the new agency for public procurement," he stressed.
Earlier, the Union stated that before the official explanations about the powers of the new organization appeared, exporters took a wait-and-see attitude.
According to the Union, the volume of wheat exports to Egypt since the beginning of the 2024/25 season exceeds 4.7 million tons due to supplies to the private sector, although a year ago it was slightly less than 2.8 million tons. Egypt is the leader in the volume of purchases of Russian wheat this season, with a serious excess compared to other importers.
As Igor Pavensky, head of the analysis of agricultural markets at Rusagrotrans, reported earlier, in recent seasons Egypt has been buying from 11 million to 12 million tons of wheat on the world market, including from 8 million to 8.7 million tons in Russia. About 5.7-6.2 million tons were purchased through GASC, and Russia's share in these tenders was 65-70%.
As Chairman of the Board of the union Eduard Zernin told Interfax, in a letter from the Ministry of Supply and Internal Trade of Egypt addressed to the head of the Ministry of Agriculture of Russia Oksana Lut, which is available to the union, it says that the Egyptian agency for sustainable development Mostakbal Misr is the only state agency with exclusive authority to organize international tenders and direct purchases of wheat and other food products for the needs of Egypt.
Mostakbal Misr exercises all the powers previously exercised by the Egyptian State Agency for Food Procurement (GASC) and allows all GASC-accredited suppliers of grain and other food products to participate in tenders or direct purchases, the letter says. The Ministry of Supply and Internal Trade of Egypt also confirmed the authority of Mostakbal Misr officials to make transactions within the framework of tenders or direct purchases and guaranteed the availability of financial opportunities to fulfill all obligations to companies that won the tender or participated in direct purchases, as well as faithfully fulfilled their delivery obligations.
"Now we can definitely say about the end of the era of GASC, until recently the largest importer of wheat and other basic agricultural products, one of the main market makers of the global grain market," Zernin said. "We hope that Mostakbal Misr will not only take the accumulated experience of GASC as a basis, but also improve it taking into account the capabilities and technologies of today."
"Russian grain exporters are ready to share their experience and best industry practices with the new agency for public procurement," he stressed.
Earlier, the Union stated that before the official explanations about the powers of the new organization appeared, exporters took a wait-and-see attitude.
According to the Union, the volume of wheat exports to Egypt since the beginning of the 2024/25 season exceeds 4.7 million tons due to supplies to the private sector, although a year ago it was slightly less than 2.8 million tons. Egypt is the leader in the volume of purchases of Russian wheat this season, with a serious excess compared to other importers.
As Igor Pavensky, head of the analysis of agricultural markets at Rusagrotrans, reported earlier, in recent seasons Egypt has been buying from 11 million to 12 million tons of wheat on the world market, including from 8 million to 8.7 million tons in Russia. About 5.7-6.2 million tons were purchased through GASC, and Russia's share in these tenders was 65-70%.
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