Australia loses biggest wheat customer
Due to the immense drought in Australia, Egypt has instead bought
260,000 tonnes of wheat from exporters in Kazakhstan, the United States and Russia.
normally buys up to $500
million worth of Australian wheat each year.
Wheat exports fromAustralia
have been seriously depleted since 2006 and principal exporter AWB has reserved stocks to sell to customers prepared to pay high prices.
has been a big customer, it has always taken a conservative outlook to pricing, according to sources linked to the wheat trade. These record grain prices, caused by a global grain shortage, also forced Egypt
to abandon further purchases.
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