GFM Network News


A general view of damage at the site of Tuesday’s blast in Beirut’s port area on Aug. 5, 2020. (Photo: Reuters/Mohamed Azakir)

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

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



G3 co-owner SALIC looking at Iraq farmland

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





Sunset in Egypt on the Nile River south of Luxor. (CIA.gov)

Egypt’s GASC cancels wheat tender as ergot policy bites

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

The Nile River at Cairo. (CIA.gov)

Egypt bans ergot in wheat, again

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


Khaled Hanafi, Egypt’s minister for supply and internal trading, shown here at a meeting Tuesday, has resigned in the wake of the country’s ongoing probe into purchases of local wheat. (MSIT.gov.eg)

Egypt’s wheat corruption scandal takes down supply minister

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