GASC sets basic commodities tenders’ delivery in January | MED-Amin network |

By Ahmed Lamloum (The Daily News Egypt), 27/11/2018

Egypt’s state grains’ buyer, the General Authority for Supply Commodities (GASC), announced the winning bid of Egypt’s first international rice buying tender on Tuesday, while it seeks to launch two vegetable oils and wheat international purchasing tenders for delivery in January.

The rice tender will be approved by the Minister of Supply, Ali Moselhy, after testing rice samples that were submitted by the bidders, a source in the ministry told Daily News Egypt. The financial offers of this tender were between $419.7 and $444 per tonne.

Also, Egypt is the world’s biggest wheat importer as it consumes 100bn of bread loaves annually. The Egyptian people spend EGP 5bn while the government pays EGP 60bn in subsidies for the bakery owners, according to Finance Minister Mohamed Moeit.

In an interview with Ahram newspaper on Saturday, Moeit said there will be no change in “the bread subsidy system no matter how much cost the country has to bear”.