Arab Finance: UAE-based agribusiness Al Dahra has signed a five-year agreement worth $500 million with the Abu Dhabi Exports Office (ADEX) to supply Egypt with wheat, Reuters reported, citing a statement.

Worth $100 million a year, the deal will provide imported milling wheat to Egypt “at competitive prices."

"The low-cost financing package from ADEX helps us procure high-quality wheat at the lowest cost financing available, with comfortable payment terms," Minister of Supply and Internal Trade Ali Moselhy noted in a statement.

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