The vessel Hercules, loaded at the French port of La Pallice, was inspected by Intertek, which confirmed the cargo met GASC
specifications, according to a letter from the French Embassy in Cairo and obtained by Bloomberg.
According to Reuters, some traders saw the GASC
tender attempt days after the cancellation of the shipments as intentionally designed to fail, in order to demonstrate the impossibility of the zero tolerance policy to the Egyptian cabinet.
Nomani said Mamdouh Abdel Fattah had taken over as acting deputy head of the GASC
(General Authority for Supply Commodities) for a period of one year, but it was not yet clear if this was renewable or not.
Nomani said a second firm, Switzerland-based Solaris, had also registered as a wheat supplier for GASC
The minutes of a meeting of the GASC
, held on 12th March 1943, state:
Printing technologies and opportunities are always changing and expanding," said GASC
president Ralph Nappi.
As vice chairman of the GASC
, Nomani was arguably the most powerful man on the global wheat market as Egypt is traditionally the world's biggest importer of the grain.
In the fiscal year that ended on June 30, 2011, GASC
purchased some 5.
Nomani said that the GASC
has bought two cargoes of French grain of
The agreement will be signed by the chairman of HGCA and the Egyptian minister of supply and internal trade and will commit both parties to doing all they can to facilitate trade between UK exporters and the Egyptian state buying organisation GASC
4 billion for GASC
as ration cards subsidies in addition to issuing bank guarantees at $78 million for importing 350,000 tons of wheat.
Hanafy added that GASC
abides by the state's standards when buying wheat from abroad.