Romanian wheat offered lowest at Egypt’s GASC tender
Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC,) on Monday received a lowest offer of $254.00 per tonne for 60,000 tonnes of Romanian wheat in an international purchasing tender, traders said.
GASC is seeking an unspecified quantity of wheat for shipment on Aug. 8-22 after nearly a month away from the international market. It cancelled its last purchasing tender on April 27 without making a purchase.
Egypt has reached the halfway point of its local harvest season, during which the government has procured 2.9 million tonnes of local grain from farmers so far.
Supply Minister Ali Moselhy told a local television channel on Sunday that he expected Egypt’s wheat imports to fall below six million tonnes in the purchasing year beginning in July following this harvest .
Traders gave the following breakdown of the offers presented in dollars per tonne on a free-on-board (FOB) basis:
• Soufflet: 60,000 tonnes of French wheat at $269.74
• Grain Export: 60,000 tonnes of Romanian wheat at $254.00
• Glencore: 60,000 tonnes of Romanian wheat at $258.80
• ADM: 60,000 tonnes of Romanian wheat at $261.87
• ADM: 60,000 tonnes of Romanian wheat at $261.87
• Cargill: 60,000 tonnes of Romanian wheat at $263.76
• Ameropa: 60,000 tonnes of Romanian wheat at $264.37
• Ameropa: 60,000 tonnes of Romanian wheat at $264.37
• CHS: 60,000 tonnes of Romanian wheat at $264.49
• Cofco: 60,000 tonnes of Romanian wheat at $269.99
• Solaris: 60,000 tonnes of Russian wheat at $264.86
• Solaris: 60,000 tonnes of Russian wheat at $264.86
• Agro AST: 60,0000 tonnes of Russian wheat at $274.79
• GTCS: 55,000 tonnes of Russian wheat at $264.00
• Posco: 60,000 tonnes of Ukrainian wheat at $260.20
• LDC: 60.000 tonnes of Ukrainian wheat at $268.50
• Glencore: 55,000 tonnes of Ukrainian wheat at $262.70
• Inerco: 55,000 tonnes of Ukrainian wheat at $267.50
Traders said the following were the most competitive offers presented at the tender including cost and freight (C&F):
Grain Export: 60,000 tonnes of Romanian wheat at $254.00 and $19.00 freight equating to $273.00
Glencore: 60,000 tonnes of Romanian wheat at $258.00 and $19.00 freight equating to $277.80
ADM: 60,000 tonnes of Romanian wheat at $261.87 and $19.00 freight equating to $280.87
ADM: 60,000 tonnes of Romanian wheat at $261.87 and $19.00 freight equating to $280.87
Cargill: 60,000 tonnes of Romanian wheat at $263.76 and $20.98 freight equating to $284.74
Ameropa: 60,000 tonnes of Romanian wheat at $264.37 and $20.98 freight equating to $285.35
No purchase has yet been made but tender results are expected later on Monday.
Source: Reuters (Reporting by Nadine Awadalla Editing by David Goodman and David Evans)