Saturday, Nov 21, 2009

BEIRUT (Zawya Dow Jones)--Egypt, the world's largest wheat importer, has recently reduced its wheat imports from the U.S. by 70% due to rising shipping costs, Saudi-based Al Riyadh daily reports Saturday.

French and Russian companies have succeeded in securing the wheat tenders lost by the Americans, the paper reports, citing an Egyptian trade ministry official.

The U.S. wheat exports to Egypt may witness an upturn in case there's a shortage of high-quality wheat supply from other parts of the world, the daily reports.

Newspaper Web site: www.alriyadh.com

-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com

Copyright (c) 2009 ABQ Zawya Ltd.

(END) Dow Jones Newswires

21-11-09 0826GMT