Egypt was unable to garner a single offer from wheat suppliers at its state grain tender on Friday, forcing it to cancel and raising renewed questions about its ability to tap global wheat markets while maintaining a ban on ergot fungus. "The risk of offering in GASC's tenders is simply too high at the present time. It is foolish to offer something you know you cannot deliver and zero ergot is not possible," one European trader said, echoing the view of several others. On Aug. 28 Egypt reinstated the ban on imports of wheat with even the smallest amount of ergot content. "I suspect GASC wants to show the other Egyptian government departments that international tenders with zero ergot level are impossible, which I think they are," another European said.

Source: Egypt Independent September 16, 2016 18:33 UTC