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India's foreign ministry is consulting with departments on their appetite for fertiliser and gas from Cairo as part payment for the credit line, an Indian official said. India, the world's second-largest wheat producer, banned wheat exports in May 2022 to help control rising domestic prices, rescinding a plan to export 3 million tons of wheat to Egypt in the year 2022/23. The other sources from India and Egypt did not wish to be identified as they are not authorised to speak to the press. India's external affairs ministry, finance ministry, trade minister, and Egypt's foreign ministry and trade ministry did not immediately respond to requests for comment. India exported $4.11 billion of goods to Egypt in the last fiscal year, while importing $1.95 billion.
Persons: Narendra Modi's, Ali Moselhy, Moselhy, Rajendra Jadhav, Conor Humphries Organizations: Reuters, Indian, Thomson Locations: CAIRO, DELHI, India, Egypt, Delhi, Cairo, New Delhi, Russia
Egypt begins offering corn on commodities exchange
  + stars: | 2023-04-15 | by ( ) www.reuters.com   time to read: +1 min
CAIRO, April 15 (Reuters) - Egypt's state grains buyer started offering yellow corn on the country's newly-launched commodities exchange on Thursday, exchange head Ibrahim Ashmawy said in a statement on Saturday. Egypt's state buyer, the General Authority for Supply Commodities (GASC), started issuing rare tenders for corn earlier this year in an effort to address a feed crisis that hurt small producers and even led some farmers to cull chicks. Supply Minister Ali Moselhy had said the corn would be offered to local producers on the exchange. Egypt's annual urban consumer inflation rate in March climbed to 32.7% year-on-year, just shy of an all-time record. GASC has similarly offered wheat to struggling mills via the exchange, selling nearly 570,000 tonnes since the launch of the exchange in November, the statement added.
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