GFM Network News


After blast, Lebanon has less than a month’s grain reserves

Beirut port silos had capacity for 120,000 tonnes; about 15,000 tonnes were stored at time of blast

Reading Time: 2 minutes Beirut/Dubai | Reuters — Lebanon’s main grain silo at Beirut port was destroyed in a blast, leaving the nation with less than a month’s reserves of the grain but enough flour to avoid a crisis, the economy minister said on Wednesday. Raoul Nehme told Reuters a day after Tuesday’s devastating explosion that Lebanon needed reserves […] Read more

Saudi Arabia completes first phase of flour mill privatization

Reading Time: 2 minutes Dubai/London | Reuters — Saudi Arabia said on Wednesday it had completed the first batch of its flour milling sector privatization, according to a statement by the state grain buyer and privatization centre. The long-awaited flour mills sale was one of the first privatizations the kingdom planned as part of a wide-reaching overhaul of its […] Read more


G3 co-owner SALIC looking at Iraq farmland

Reading Time: 2 minutes Dubai | Reuters –– The Saudi Agricultural and Livestock Investment Company (SALIC) is looking at more farmland investment opportunities and has its neighbour Iraq on the list. SALIC, an arm of the country’s Public Investment Fund (PIF), said it was also looking to expand its investments in the Black Sea region, which already includes almost […] Read more

Egypt’s wheat imports again uncertain as ergot ban looms

Reading Time: 2 minutes Cairo | Reuters — An Egyptian court has decided to reinstate a zero tolerance policy on common grain fungus ergot, lawyers on the case told Reuters on Tuesday, plunging trade with the world’s largest wheat importer back into uncertainty. Egypt last year scrapped a ban on ergot in grain imports after it effectively halted purchase […] Read more



Health ministry decision makes zero ergot Egypt’s new normal

Reading Time: 3 minutes Abu Dhabi/Cairo | Reuters — Egypt’s health ministry banned wheat with any ergot fungus on Monday, a decision traders said signals the zero tolerance policy that wreaked havoc on the country’s grain purchases earlier this year is back to stay. The decree, seen by Reuters, brings the ministry in line with an agriculture ministry decree […] Read more


Egypt’s GASC cancels wheat tender as ergot policy bites

Reading Time: 2 minutes Cairo/Abu Dhabi | Reuters — Egypt’s ability to buy wheat from abroad while demanding zero ergot fungus in shipments was dealt a serious blow on Wednesday, with state grain buyer GASC cancelling its tender after receiving just one offer. It was the country’s first tender to purchase wheat since it reinstated its zero-tolerance ergot policy […] Read more

Egypt bans ergot in wheat, again

Reading Time: 2 minutes Cairo/Abu Dhabi | Reuters — Egypt reinstated on Sunday a controversial ban on wheat shipments containing even the slightest amount of a common grain fungus, baffling traders who had returned to the Egyptian market just last month when the ban was lifted. The world’s largest wheat importer said on Sunday it was re-introducing its zero […] Read more


Egypt’s wheat corruption scandal takes down supply minister

Reading Time: 3 minutes Cairo/Abu Dhabi | Reuters — Egypt’s Minister of Supply Khaled Hanafi has resigned amid the highest-profile corruption case since President Abdel Fattah al-Sisi came to power in 2014. Hanafi’s resignation is the most senior-level fallout from a probe into whether millions of dollars intended to subsidize farmers were used to purchase wheat that did not […] Read more

Egypt returns to zero tolerance of ergot in wheat

Reading Time: 2 minutes Abu Dhabi/Cairo | Reuters — Egypt has rejected two shipments of wheat for containing trace levels of the ergot fungus, backtracking on a government pledge to apply international standards and alarming traders looking to do business with the world’s largest buyer of the grain. Earlier this year traders boycotted state wheat tenders after the country’s […] Read more