Egypt in $29 million deal for Kazakh wheat

Egypt has agreed to swap 120,000 tonnes of Kazakh wheat for Egyptian products including medicines and carpets in a deal worth $29 million, the trade ministry said on Monday.
The deal would take place in January and February. Trade and Industry Minister Rachid Mohamed Rachid said in a statement that similar wheat-exchange deals between Egypt and Kazakhstan could reach a value of $170 million annually.
Egypt, one of the world's biggest wheat importers, said this month it could add Kazakhstan to its list of wheat suppliers once the two countries solve the problem of transport between them. Egypt buys about 6 million tonnes of wheat annually.
Kazakhstan is forecasting a grain harvest of 16 million tonnes this year, mostly high quality wheat, and expects to export between 4.5 million and 5 million tonnes. Most of its exports go to ex-Soviet states. So far this year, Egypt has bought wheat mainly from the United States and Canada, although imports from Russia have been relatively high, at 390,000 tonnes.