In response to an earlier report this week regarding a direct contract for monthly wheat supplies, Egypt's state grain buyer stated on Friday that it is fully committed to disclosing all deals or tenders completed by the authority.

The General Authority for Supply Commodities has a commitment to secure and provide a strategic stock of food commodities. It said that the Authority constantly monitors commodity prices and works to benefit from low global prices to meet its needs.

Sources told reporters that on Wednesday the state buyer struck its largest direct wheat deal ever for monthly supplies between November and April.

A joint venture between a global company and an Egyptian entity will supply the wheat. (Reporting and editing by Mark Potter.

(source: Reuters)