Egypt’s state grain buyer GASC on Wednesday said it bought 180,000 tonnes of wheat in an international purchasing tender on to be sourced from Romania and Ukraine, confirming earlier reports from traders.
GASC said 120,000 tonnes would be sourced from Romania and 60,000 tonnes from Ukraine but gave no more details.
Traders said these purchases were made:
- 60,000 tonnes Romanian wheat from Cofco at $294.99 a tonne FOB plus $34.43 freight (ocean shipping) totalling $329.42 a tonne c&f
- 60,000 tonnes Romanian wheat from Grain Export at $297.00 a tonne FOB plus $34.43 freight totalling $331.43 a tonne c&f
- 60,000 tonnes Ukrainian wheat from Nibulon at $297.95 a tonne FOB plus $35.94 freight or $333.89 a tonne c&f
Offers in the tender, which sought shipment between Oct. 5-15, were submitted earlier on Wednesday.
In its last tender on Aug. 2, GASC bought 60,000 tonnes of Romanian wheat at $261.49 a tonne FOB plus $32.25 a tonne freight (ocean shipping costs), equating to $293.74 a tonne c&f.
Since then, wheat prices have risen strongly, touching 8-1/2 year highs on concerns about poor harvests and tighter global supplies.
Source: Reuters (Reporting by Michael Hogan, additional reporting by Nafisa Eltahir in Cairo; Editing by Elaine Hardcastle )