Egypt’s GASC buys 400,000 metric tons of wheat in tender
Egypt’s General Authority for Supply Commodities purchased 400,000 metric tons of wheat in an international tender, including Bulgarian, Romanian, and Ukrainian wheat. Traders negotiated lower prices, with significant cuts for some cargoes. The breakdown per metric ton: Bulgarian wheat from Buildcom and Cargill, Romanian wheat from LDC, and Ukrainian wheat from LDC and ADM.
CAIRO: Egypt’s state grains buyer, the General Authority for Supply Commodities, said on Tuesday it had bought 400,000 metric tons of wheat in an international tender.
The purchase comprised 100,000 tons of Bulgarian wheat, 180,000 metric tonnes of Romanian wheat and 120,000 metric tons of Ukrainian wheat, GASC said. GASC negotiated lower prices for some offers, with more than $10 cuts per ton for some cargoes, traders said.
“Ukrainian wheat is very cheap, even cheaper than Russian. It is mainly sold in small shipments. If there is confidence in the ability to ship without Russian attacks, as the GASC tender showed, there is potential in the Ukrainian market to squeeze out very low prices,” one German trader said.
Traders gave the following breakdown of the purchase in dollars per metric ton: Supplier QTY/ Origin Shipment At Freight C&F KMT Sight FOB Buildcom 50 BGR Aug. 1-10 $14.95 $264.95 $250.00 Cargill 50 BGR $250.00 $17.80 $267.80 Aug. 1-10 LDC 60 RO $269.65 Aug. 1-10 $251.85 $17.80 CHS 60 RO Aug. 1-10 $251.85 $17.80 $269.65 AMS 60 RO $251.85 Ameropa Aug. 1-10 $17.80 $269.65 LDC 60 UKR Aug. 11-20 $36.20 $233.45 $269.65 ADM 60 UKR $233.45 Aug. 11-20 $36.20 $269.65
Source Link : https://www.zawya.com/en/markets/commodities/egypts-gasc-buys-400-000-metric-tons-of-wheat-in-tender-kxuufos9
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