Pre-Trading Thoughts

Minister of Planning noted that real GDP growth in Egypt reached 6.6% in FY21/22. The market is anticipating the release of large quantities of imported strategic commodities from Egyptian ports, including feed (corn and soybeans), to increase the supply in the market and limit the successive price increases. A Russian wheat shipment of 42k tons is scheduled to arrive at Alexandria port today. Ministry of Supply has raised the prices of oil sold through ministry outlets to EGP25/800 ml, up fr...