Skip to content
Subscriber Only

Drought Forces Top Wheat Buyer Egypt to Pay Most Since 2015

  • Egypt’s state-run buyer GASC purchased 420,000 tons of wheat
  • GASC paid an average $235.65 a ton in a tender closed Tuesday
Operations During A Wheat Harvest As Crop Report Shifts
Photographer: Daniel Acker/Bloomberg
Updated on

A drought that’s hit wheat crops across the Black Sea region and Europe has forced Egypt, the world’s largest importer, to pay the highest price in more than three years.

Egypt’s state-run buyer General Authority for Supply Commodities paid an average $235.65 a metric ton in a tender closed Tuesday, according to traders familiar with the process and data compiled by Bloomberg. GASC purchased 420,000 tons of wheat for Sept. 1-10 delivery.