Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC), directly purchased 240,000 tonnes of Russian wheat on August 22, the supply ministry said in a statement to Reuters.
The cargoes will be shipped over the following periods: September 20 to October 10, October 11 to October 30 and October 21 to November 10, the ministry said.
The purchase comprised of six cargoes of 40,000 tonnes of Russian wheat sold on a cost and freight basis, two people with knowledge of the matter said.
The ministry did not disclose the price but traders said they thought it was sold at a price of $368 per tonne.
Further purchases could still be made as talks were still ongoing, the people said.