Sudan Bids to Import Flour, Wheat

Supporters gather outside the National Prison during the release of politicians and journalists, after demonstrations in Khartoum, Sudan February 18, 2018. REUTERS/Mohamed Nureldin Abdallah
Supporters gather outside the National Prison during the release of politicians and journalists, after demonstrations in Khartoum, Sudan February 18, 2018. REUTERS/Mohamed Nureldin Abdallah
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Sudan Bids to Import Flour, Wheat

Supporters gather outside the National Prison during the release of politicians and journalists, after demonstrations in Khartoum, Sudan February 18, 2018. REUTERS/Mohamed Nureldin Abdallah
Supporters gather outside the National Prison during the release of politicians and journalists, after demonstrations in Khartoum, Sudan February 18, 2018. REUTERS/Mohamed Nureldin Abdallah

The Ministry of Finance and Economic Planning launched Sunday an open tender on the supply of 500,000 tons of wheat and flour, in response to a wave of protests Sudan witnessed in the past days.

Days earlier, Sudan's Prime Minister Moataz Moussa announced budget 2019 that encapsulates subsidies allocations of SDG66 billion (USD1.4 billion) and SDG53 billion out of them are for bread and fuel.

Sources told Asharq Al-Awsat newspaper that the wheat and flour bid is meant to calm protesters and easing living conditions that are affected by bread prices and scarcity of wheat.

Economist Prof. Mohamed Jack Ahmad told Asharq Al-Awsat that the success of the public budget is hinged to negative economic indicators including the inflation rate, foreign currencies exchange, the rise of services and commodities prices, and the recession in Sudanese markets.

Director-General of the Agricultural Bank of Sudan Salah al-Din Hassan said that the amount of the tender is to be determined later after the closing date of submission, pointing out that the last tender for the supply of wheat issued by the Ministry of Finance was about two years ago.

Former deputy minister of foreign trade and former official of the wheat file Al-Kindi Yusuf pointed out that the scarcity of strategic commodities, including wheat and bread flour, has become a phenomenon associated with the economies of developing countries, which is always paid to plan for self-sufficiency.

Yusuf pointed out that the tender for wheat and bread flour at this particular time means that the government has renewed the support that stopped the commodity to absorb the political turmoil caused by citizens in protest against the high prices of bread.



Gold Heads for Weekly Fall as Fewer Fed Rate Cut Prospects Weigh

Jewelry is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo
Jewelry is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo
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Gold Heads for Weekly Fall as Fewer Fed Rate Cut Prospects Weigh

Jewelry is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo
Jewelry is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo

Gold prices fell on Friday and were on track for a weekly decline, as an overall stronger dollar and the prospect of fewer US interest rate cuts offset support from rising geopolitical risks in the Middle East.

Spot gold slipped 0.8% to $3,333.99 an ounce, as of 0604 GMT, and was down 2.5% for the week so far.

US gold futures shed 1.4% to $3,361.80.

Describing the situation in the Middle East as "fluid", Kelvin Wong, senior market analyst, Asia Pacific, at OANDA, said it is causing traders to avoid taking aggressive positions both on the long and the short side of the trade spectrum, reported Reuters.

US President Donald Trump will decide in the next two weeks whether the US will get involved in the Israel-Iran air war, the White House said on Thursday, raising pressure on Tehran to come to the negotiating table.

Meanwhile, Trump reiterated his calls for the US Federal Reserve to cut interest rates, saying it should be 2.5 percentage points lower.

The Fed held rates steady on Wednesday, and policymakers retained projections for two quarter-point rate cuts this year.

"Macroeconomic developments, particularly steady yields and renewed USD strength, have not supported the (gold) price," analysts at ANZ said in a note.

"Rising inflation expectations and the Fed's cautious stance have weighed on market expectations around the number of rate cuts this year."

The dollar was set to log its biggest weekly rise in over a month on Friday. A stronger greenback makes gold more expensive for other currency holders.

Elsewhere, spot silver slipped 2.1% to $35.61 per ounce, while palladium fell 0.8% to $1,042.04. Platinum fell 1.9% to $1,282.72, but was heading for its third straight weekly rise.