Egypt, the world’s biggest wheat importer, is stepping up efforts to find more sources after prices it paid for Russian grain climbed almost 5 percent in less than a month.
The state-run General Authority for Supply Commodities bought Russian wheat for as little as $243.50 a metric ton on July 7, its first purchase following the expiration of a ban on grain exports from the eastern European country after almost a year. The authority paid as much as $255.25 at its latest tender on July 29.
