The Egyptian General Directorate for the Supply of Goods entered into an agreement with the Russian company Solaris to purchase approximately 480,000 tons of wheat.
Egypt’s state grain buyer bought nearly half a million tons of Russian wheat under a private agreement. Reuters wrote this on September 4.
The publication spoke to four traders who were able to negotiate lower prices than those offered in more traditional tenders.
Note that last year Egypt began switching to direct purchases instead of tenders after the war in Ukraine delayed its purchases.
On September 1, Egypt’s General Directorate of Commodity Supply bought about 480,000 tons of Russian wheat from the trading company Solaris at a price of about $270 per ton at an ex-works price. That is, the seller opened access to the goods for the buyer at the factory, warehouse or company, and the buyer independently picked it up and transported it.
Traders told Reuters the price could be below the unofficial low set by the Russian government to control domestic wheat prices.
Recall that in July the Russian Federation announced its withdrawal from the grain deal, which was valid for one year and allowed Ukrainian food to be exported from Black Sea ports. Russian troops began shelling Ukrainian ports and grain infrastructure in southern Ukraine.
In August, Ukraine announced the opening of temporary corridors for merchant ships in the Black Sea. The routes are mainly intended for the discharge of civilian ships that have been in Ukrainian ports since the beginning of the full invasion of the Russian Federation. So far, four ships have passed through the temporary corridor.
Source: korrespondent
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