Lowest offer at Egypt’s GASC wheat tender at $260/mt – traders
AIRO, Dec 7 (Reuters) – The lowest free-on-board offer presented at an Egyptian state purchasing tender for wheat on Thursday was $260 per metric ton, traders said.
Several offers were submitted at that price point.
Egypt’s state grains buyer, the General Authority for Supply Commodities, is seeking wheat in an international tender for shipment Jan. 10-20 and/or Jan. 21-31.
It asked suppliers to submit offers on a free-on-board (FOB) basis, with payment to be made via both 270-day letters of credit and 180-day letters of credit and GASC will choose between them. The deadline for offers is Dec. 7, with results expected to be announced later on Thursday.
Traders said participation in the tender was thinner than in GASC’s previous tender on Tuesday because traders found the delayed payment terms unattractive. Tuesday’s wheat tender from GASC had also offered at sight (immediate) payment terms.
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