Egypt’s New Wheat Inspection System Seen Leading to Lower Prices
- Egypt to see better prices and more offers, Medstar says
- GOEIC will be responsible for wheat inspections at ports
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Egypt’s new wheat inspection program was met by relief from traders, who said the system will likely be easier to navigate and may lead to lower prices.
The General Organization for Export and Import Control, or GOEIC, will be the sole state body responsible for wheat inspections at shipping and arrival ports, replacing government inspectors. The new system may lead companies to reduce prices by about 5 percent in international tenders, according to Alaa Ezz, the secretary general of the Federation of Egyptian Chambers of Commerce.