29 May 2017
GASC, the world's largest wheat importer
In Egypt, the General Authority For Supply Commodities (GASC) procures strategic agricultural commodities with the purpose of developing the local and international market, while promoting fair competitiveness and prohibiting monopoly, which implies, in a word, balancing the market. All these functions are especially critical during the local wheat harvest season in April.
Crop expectations are this year around 8 million tons, according to an estimate based on the volume of plantations, which are distributed all over the country, especially in Upper Egypt and the Delta area. During harvest from April to June, Egypt reduces wheat imports in order to protect local prices and stimulate domestic production. This process is right now of the utmost importance, allowing the country to minimize its dependency on foreign currency that Egypt is currently lacking.
This year, for the first time ever, GASC-registered certification companies like Cotecna will contribute to the process of inspecting local wheat deliveries at governmental silos so as to assess their quality, which is the very basis of wheat prices.
Cotecna is proud to be one of the companies responsible for this national mandate, thanks to its worldwide experience and excellent reputation in the country. If you need help to export your products to Egypt or require any further clarification, don’t hesitate to contact us.
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