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Top Wheat Buyer's Latest Tender Shows Huge Cost of Buying Grain

  • Top buyer booked wheat at a very high price in latest tender
  • Ukraine war has upended trade flows, raising grain prices
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Top wheat buyer Egypt’s latest purchase laid bare the eye-watering costs importers face as the Ukraine war upends the global grains trade.

The country is boosting efforts to ensure it has enough to feed its citizens, many of whom rely on a bread-subsidy program. In a tender on Wednesday, it drew offers from six companies, about half the normal number, traders who asked not to be identified said. The state-run buyer ultimately scooped up 350,000 tons, including French wheat, a rare Bulgarian cargo and one from Russia.