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Wheat| Egypt's reported record local wheat purchases of 5 million

June 13, 2015 10:50 AM |

Egypt's reported record local wheat purchases of 5 million tonnes this season suggest chronic smuggling has been worsened by an inflated govt purchasing price that is up to $200 per tonne above the market. Egypt, annually fixes a local procurement price that is above global prices in an attempt to encourage farmers to grow crop.






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