Egypt purchased 1.267 million tons of wheat without a tender, and may not buy more until the end of June

Egypt's new public procurement agency, Mostakbal Misr, has signed direct contracts for the supply of 1.267 million tons of wheat (mostly Russian), which the country will have enough for until the end of June 2025, Reuters reports.

Now, Egypt will not need to buy wheat in the near future, especially considering that its own harvest will begin in the second half of April.

Previously, major Russian exporters reported negotiations with Mostakbal Misr regarding direct wheat supplies and agreed to participate in the agency's tenders.

In the first half of the 2024/25 MY, Egypt became the leader in imports of Russian wheat, increasing its purchases by 1.8 times compared to the previous season, from 2.9 to 5.3 million tons.

Egypt's new closed procurement system makes the process opaque and does not provide global traders with additional price indicators.

Last week, the Algerian agency OAIS (another major global importer) purchased 1.17 million tons of food wheat at a tender for shipment from February to March 2025 at a price of $257-258/ton C&F from the following companies:

• LDC - 600 thousand tons,
• Olam - 180 thousand tons,
• Viterra - 120 thousand tons,
• Bunge - 60 thousand tons,
• Averé - 60 thousand tons,
• Ameropa - 60 thousand tons,
• Cargill - 60 thousand tons,
• Nibulon - 30 thousand tons.