Demand for Russian Wheat on the first day of trading that the Egyptian commodities exchange started, supply exceeded supply by almost 65%, reports Menafn.
According to the Egyptian Ministry of Supply, 12.000 tons Grain crop offered for sale at 9750 Egyptian pounds (US$398) per tonne.
"Demand for wheat imported from Russia exceeded the ministry's initial offer by 64,83% on the first day of trading," the ministry said.
As indicated, a total of 28 requests for the purchase of almost 20 thousand tons of wheat from Russia were accepted, while 18 transactions were completed.