Egypt’s GASC receives offers at wheat tender

23.01.2017

The lowest offer at Egyptian state grain buyer GASC’s wheat tender was $188.74 a tonne free on board (FOB) for 60,000 tonnes of Ukrainian wheat, Cairo-based traders said on Friday.

GASC received offers from eight suppliers, with six for Russian wheat and one each for Ukrainian and Romanian wheat, they said.

“Russia continues to dominate in terms of volume while Ukraine still has cheap supplies available despite large Ukrainian sales to India,” one European trader.

Results of the tender are due later on Friday.

Egypt, the world’s largest wheat buyer, recently streamlined its wheat inspection regime, a response to a months-long standoff over import rules on the common grains fungus ergot last year that led to tender boycotts by trading companies.

“Participation continues to stabilise but is still below the levels before the ergot problems,” the European trader said of Friday’s turnout.

Traders said the following offers were made (dollars per tonne FOB):

*Louis Dreyfus: 60,000 tonnes of Ukraine wheat at $188.74

*Daewoo: 60,000 tonnes of Russian wheat at $194.75

*ECTP: 60,000 tonnes of Russian wheat at $194

*ADM: 60,000 tonnes of Russian wheat at $195

*Olam: 60,000 tonnes of Russian wheat at $194

*Glencore: 60,000 tonnes of Russian wheat at $194

*Alegrow: 60,000 tonnes of Russian wheat at $193.50

*Nidera: 60,000 tonnes of Romanian wheat at $196.95

Traders also said the following were the cost and freight (C&F) offers in dollars per tonne:

*Louis Dreyfus: 60,000 tonnes of Ukrainian wheat at $188.74 FOB and $12.43 freight equating to $201.17 C&F

*Allegro: 60,000 tonnes of Russian wheat at $193.50 FOB and $10.89 freight equating to $204.39 C&F

*ECTP: 60,000 tonnes of Russian wheat at $194.00 FOB and $10.89 freight equating to $204.89 C&F

*Olam: 60,000 tonnes of Russian wheat at $194.00 FOB and $10.89 freight equating to $204.89 C&F

*Glencore: 55,000 tonnes of Russian wheat at $194.00 FOB and $11.91 freight equating to $205.91 C&F

GASC is seeking the wheat for shipment from Feb. 22-March 3.


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