As per report available from the reliable source, it has been revealed that the Egypt’s state grain buyer General Authority for Supply Commodities (GASC) has cancelled a tender to purchase an unspecified amount of rice for delivery from April 20 to May 10, 2016. However, in this regard, the Vice Chairman of the GASC has not given any reason for its cancellation. Meanwhile, the traders reportedly informed that the agency received only two valid offers (both for Indian rice) for the tender, and it rejected another offer for lack of necessary paperwork.
Further, in this regard, the official noted that another tender seeking an unspecified amount of rice will be held with deadline for offers on April 2, 2016. It has also been narrated that the tender was aimed at ensuring uninterrupted rice supplies for the state subsidized rice program as local traders have been hoarding rice in expectation of high prices. This is the second tender since the Egyptian government announced the removal of export ban with certain conditions. Thus, the GASC cancelled the first tender in January 27 to give more time to suppliers to issue necessary paperwork to do the needful.