Cairo – Mubasher: Egypt’s supply minister and chairman of General Authority for Supply Commodities (GASC) Ali Moselhy announced that AOS, a Dubai-based trader, did not deliver two contacted cargoes.
AOS has offered two 120,000 tonnes extensions to the delayed cargos but the company did not supply them, according to Reuters.
“They have failed to deliver two cargoes, there were delays and we arranged new timings for them but they did not execute. They are now outside of their contractual terms with GASC,” Reuters reported, citing Moselhy as said.
Moselhy rejected to disclose details of the cargoes including its country of origin and value.
Last week, Egypt held an international wheat purchase tender, in which GASC bought 60,000 tonnes despite the Arab nation’s abundant domestic harvest that would halt imports until July, the international news agency noted.
“The tender raised questions over why Egypt, the world’s largest wheat buyer, needed to buy cargoes at a time of high prices as the season for Black Sea wheat neared its close.”
Egypt may be in need of holding a new tender to maintain its grain reserves, which are considered a politically sensitive matter.
The Egyptian government spends around $1.5 billion per year wheat imports.
