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Egypt’s GASC seeks wheat for Jan. 21-31 shipment

Egypt’s General Authority for Supply Commodities (GASC) set a tender on Wednesday to buy an unspecified amount of wheat from global suppliers for shipment from Jan. 21-31.

GASC Vice Chairman Ahmed Youssef said the authority was seeking to buy cargoes of soft and/or milling wheat from the United States, Canada, Australia, France, Germany, Poland, Argentina, Russia, Kazakhstan, Ukraine, Romania, Bulgaria, Hungary and Paraguay.

Tenders should reach GASC by noon local time (1000 GMT) on Thursday. The results should come out after 3:30 p.m. on the same day. Wheat bids should be free-on-board, with a separate freight offer.

The latest tender comes amid questions over whether Egypt, the world’s largest wheat buyer, has issued letters of credit to cover recently purchased cargoes. Sources told Reuters that Egypt has not issued letters of credit covering 16 cargoes, effectively delaying payment and sowing confusion amongst suppliers. urn:newsml:reuters.com:*:nL8N1YA1UO

Egypt’s Supply Ministry said it had made payment guarantees for three wheat cargoes and would make them for five more, while guarantees for another eight cargoes were not yet due. urn:newsml:reuters.com:*:nL8N1YA5EA

At its last wheat tender on Nov. 22, GASC bought 240,000 tonnes of U.S., Russian and Romanian wheat for shipment Jan. 10 to 20.

This time, GASC is seeking to buy 55,000 to 60,000-tonne cargoes of the following:

U.S. North Pacific soft white wheat;

U.S. hard red winter wheat;

U.S. soft red winter wheat;

Russian milling wheat;

Ukrainian milling wheat, and

Australian standard white wheat.

GASC is also seeking 60,000-tonne cargoes of the following:

Canadian soft wheat;

French milling wheat;

German milling wheat;

Argentine bread wheat;

Polish milling wheat;

Kazakh milling wheat;

Romanian milling wheat;

Bulgarian milling wheat;

Hungarian milling wheat, and

Paraguayan milling wheat.
Source: Reuters (Reporting by Maha El Dahan in Dubai; writing by Julie Ingwersen in Chicago Editing by Leslie Adler and Lisa Shumaker)

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