{"id":86711,"date":"2017-03-27T04:03:25","date_gmt":"2017-03-27T02:03:25","guid":{"rendered":"http:\/\/www.arabtelegraph.com\/?p=86711"},"modified":"2024-11-28T23:29:27","modified_gmt":"2024-11-28T21:29:27","slug":"egypts-gasc-to-continue-purchasing-imported-wheat-during-local-season","status":"publish","type":"post","link":"https:\/\/www.arabtelegraph.com\/?p=86711","title":{"rendered":"Egypt&#8217;s GASC to continue purchasing imported wheat during local season"},"content":{"rendered":"<p dir=\"ltr\"><strong>Egypt&#8217;s state grain buyer, the General Authority for Supply Commodities (GASC) will continue to import wheat during the local wheat-buying season as it aims to increase its strategic reserves, Supply Minister Ali Moselhy said on Sunday.<span id=\"midArticle_byline\"><\/span><\/strong><\/p>\n<p dir=\"ltr\">&#8220;You can&#8217;t stop, you have to continue importing from all origins and form a reserve,&#8221; he told Reuters.<\/p>\n<p dir=\"ltr\">But he said private sector imports would be banned from April 15 to July 15. The private sector import ban is a government effort to prevent fraud in local procurement.<\/p>\n<p dir=\"ltr\">More than 2 million of Egypt&#8217;s reported 5 million tonnes of wheat last year may have existed only on paper, according to grain industry experts and lawmakers who investigated the matter.<\/p>\n<p dir=\"ltr\">Mosely has said that Egypt expected to buy about 4.5 million tonnes of wheat from local farmers this year.<\/p>\n<p dir=\"ltr\">On Sunday, he said proposed spending on food subsidies in the 2017\/18 budget would be 86 billion Egyptian pounds ($4.73 billion), a sharp increase in local currency terms after the pound lost more than half its value in a November floatation.<\/p>\n<p dir=\"ltr\">&#8220;Of course there is an increase, if you consider what happens with the dollar and devaluation &#8211; we import 60 percent of our wheat so we have to allocate that amount,&#8221; he said, adding that the food subsidy allocation in the budget was a priority for the government.<\/p>\n<p dir=\"ltr\">&#8220;Wheat is a must, oil is a must, sugar is a must &#8211; we have to fulfil it.&#8221;<\/p>\n<p dir=\"ltr\">Moselhy also said there were no plans for changes to the GASC leadership.<\/p>\n<p dir=\"ltr\">In previous years, GASC has typically slowed down or stopped completely its purchase tenders for imported wheat during the local buying season.<span id=\"midArticle_byline\"><\/span><\/p>\n<p dir=\"ltr\">($1 = 18.1900 Egyptian pounds)<\/p>\n<h1 dir=\"ltr\"><\/h1>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt&#8217;s state grain buyer, the General Authority for Supply Commodities (GASC) will continue to import wheat during the local wheat-buying season as it aims to increase its strategic reserves, Supply Minister Ali Moselhy said on Sunday. &#8220;You can&#8217;t stop, you have to continue importing from all origins and form a reserve,&#8221; he told Reuters. But &hellip;<\/p>\n","protected":false},"author":3,"featured_media":86671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[267],"tags":[],"class_list":["post-86711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Egypt&#039;s GASC to continue purchasing imported wheat during local season - Arab Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.arabtelegraph.com\/?p=86711\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt&#039;s GASC to continue purchasing imported wheat during local season - Arab Telegraph\" \/>\n<meta property=\"og:description\" content=\"Egypt&#8217;s state grain buyer, the General Authority for Supply Commodities (GASC) will continue to import wheat during the local wheat-buying season as it aims to increase its strategic reserves, Supply Minister Ali Moselhy said on Sunday. &#8220;You can&#8217;t stop, you have to continue importing from all origins and form a reserve,&#8221; he told Reuters. 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