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Egypt draws wheat tender as Russia eyes export tax

Egypt draws wheat tender as Russia eyes export tax

ArabFinance: Egypt canceled a tender on January 12th to buy wheat as Russia prepares to impose grain tax export to safeguard its food supplies, Bloomberg reported.

Russia said it will discuss this week whether to adjust the tax planned for next month.

The North African country planned to import 175,000 tons of Russian wheat from three companies during January 20th and 31st.

Benchmark wheat, corn, and soy futures are near six-year highs, and grain suppliers including Russia are seeking to curb shipments to quell local food-price inflation, the news agency noted.

 

 

 

 

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