The General Authority for Supply Commodities in Egypt announced the completion of a deal to purchase 770,000 tons of wheat, most of it Russian wheat, in the largest single purchase since 2022.

The Authority, which is the government buyer of grains in Egypt, explained that the deal included 720,000 tons of Russian wheat and 50,000 tons of Bulgarian wheat.

The Russian wheat price was the lowest in practice and traders believe that Russia’s unofficial minimum export price has not been implemented.

The minimum price for Russian wheat has been implemented since last year with the aim of slowing wheat exports and calming domestic flour and bread prices in Russia, and the current purchase is considered the authority’s largest since June 2022, according to Reuters data.
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