Egypt’s wheat reserves sufficient for 4.5 months, sugar, vegoils cover 5.2 months – minister

Egypt’s wheat reserves sufficient for 4.5 months, sugar, vegoils cover 5.2 months – minister

CAIRO - Egypt's wheat reserves are sufficient for 4.5 months, while sugar and vegetable oils reserves cover 5.2 months, the country's state news agency said on Wednesday citing Supply Minister Aly Moselhy.

Egypt's state grains buyer, the General Authority for Supply Commodities (GASC), said on Tuesday it bought 480,000 metric tons of Russian wheat in an international tender.

The purchase comprised 180,000 tons for Feb. 1-14 shipment, as well as 300,000 tons for Feb. 15-29 shipment.

Earlier on Wednesday, (GASC) said it has bought 50,000 metric tons of imported raw sugar for shipment in February.

Egypt extended its ban on sugar exports in December after tight supplies led to rising prices and shortages of unsubsidised sugar at some shops in the country.

The minister pointed out that sugar shortages will be over before Jan. 15, two weeks after the beginning of the local sugar production season, according to the state news agency.

(Reporting By Moaz Abd-Alaziz and Muhammad Al Gebaly in Cairo; Editing by Sonali Paul)

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