PRINTABLE VERSION   EMAIL TO A FRIEND   RSS FEEDS 08:58 UK, 15th Jun 2009, by Mike Verdin
Egypt's wheat stocks enough to last out 2009

Egypt, one of the world's biggest wheat importers, has said it has enough wheat to last until the end of the year thanks to an acceleration in stockpiling.

The data comes amid a dispute with Moscow which Russia's grain industry, the biggest exporter to Egypt, has dismissed as an attempt to depress prices.

Egypt has 4.02m tonnes of strategic wheat reserves after buying in 2.83m tonnes during the current season, Social Solidarity Ministry.

The import level is roughly 1m tonnes higher than in the same period a year before.

Contamination claims

Moscow and Cairo have been at loggerheads since Egyptian authorities in May quarantined a shipment of 52,000 tonnes of Russian wheat on grounds of contamination with insects and weeds. This month, they seized a 55,000-tonne delivery.

Egypt has opened a criminal investigation into whether one importer, Egyptian Traders, shipped in Russian wheat that failed to meet domestic specifications.

Egypt is the world's biggest wheat consumer, but can meet from domestic production less than half demand of about 16m tonnes a year.

Besides Russia, Egypt also sources much of its grain from Kazakhstan and Ukraine, with Canada and France also major markets.

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