UPDATE 1-Russian wheat Egypt bought in September finally on way

(Adds background in paragraphs 2-5)

MOSCOW, Dec 10 (Reuters) – A first shipment of 66,000 metric tons of Russian wheat out of a total of 430,000 which Egypt bought in September left the port of Novorossiisk on Tuesday after delays, LSEG shipping data showed.

Egypt’s Ministry of Supply said in September that its General Authority for Supply Commodities (GASC) had contracted 430,000 tons of Russian wheat for October shipment.

Details of the supplier and payment terms were not disclosed. The shipments were delayed, first to November and then to December.

Russia made no official comment on the deal, but its Grain Exporters and Producers Union (Rusgrain), which reflects the government’s line on export policy, said the deal had likely involved an unknown middleman.

Russia has since clamped down on foreign intermediaries in its international wheat trade, introducing informal restrictions, to help boost prices for its wheat in both international tenders and direct purchases.

The departure of bulk carrier Wadi Almolouk follows Egypt’s decision to appoint Mostakbal Misr for Sustainable Development as the state’s new designated importer of strategic commodities, replacing GASC.

Mostakbal Misr serves as the development arm of the Egyptian Armed Forces.

Rusgrain confirmed that the Agriculture Ministry received an official letter about the decision and said it will work with Mostakbal Misr.

Russia’s agricultural watchdog confirmed that it had issued all the necessary phytosanitary certificates for the wheat shipment.

The Egyptian-flagged Wadi Almolouk is due to reach Egypt’s port of El Dekheila before the end of the year. (Reporting by Olga Popova and Gleb Stolyarov in Moscow, Mohammed Ezz in Cairo, writing by Gleb Bryanski; Editing by Mark Trevelyan)

(c) Copyright Thomson Reuters 2024. Click For Restrictions – https://agency.reuters.com/en/copyright.html