Gemcorp, an emerging markets trade and investment group, has won a competitive tender to supply 200,000 mt of milling wheat to the Ethiopia’s National Disaster Risk Management Commission (NDRMC), to be delivered over the coming months
The tender is for a total of US$40.73mn in sales and was established by Ethiopia’s Public Procurement and Property Disposal Service (PPPDS) who have procured these goods on behalf of NDRMC. It follows a separate tender win last year for Gemcorp to supply 900,000 mt to Ethiopia, which were delivered as per the contracts.
Products will be sourced from the group’s existing supply-base, principally, from its Russian and Ukrainian partners to ensure consistency of quality and performance of shipments. Shipping of the wheat from FOB load-port to the discharge port shall be handled by Ethiopian Shipping Lines independently and payment structured through the Commercial Bank of Ethiopia by way of a bespoke funding solution involving the World Bank.
Over the last several years, Gemcorp has established excellent relationships with these esteemed state-owned organizations and has developed its reputation for on-time performance.
Wheat is an essential and increasingly important element of the Ethiopian and African diet, and local production across the continent has not been able to match high demand. There has been growing uncertainty within the region over supply since the outbreak of the coronavirus pandemic, this delivery shall go some way to ensuring consistent supply of wheat to Ethiopia, reducing the impact of poor regional crops, locusts and COVID-19 related supply chain disturbances.
