ICEC

Egypt’s bill of purchasing wheat records $115mn in 8 months

Egyptian grain buyer General Authority For Supply Commodities (GASC) has purchased 660,000 tonnes of wheat since the beginning of 2016 until now through four international tenders. The four tenders are estimated at US$115.2 million.

The first tender included buying 180,000 tonnes of Ukrainian wheat that have been shipped from 10-20 August at the price of US$173.3 per ton.

The second tender encompassed purchasing 300,000 tonnes of Russian and Romanian wheat ; i.e. 120,000 tonnes of Russian wheat and 180,000 tonnes of Romanian wheat. The agreed upon wheat was purchased at the price of US$174.99 per ton.

By the third international tender, GASC bought 120,000 tonnes of Russian and Romanian wheat during the new fiscal year 2016-17 including 60,000 tonnes of Russian wheat and 60,000 tonnes of Romanian wheat.  The 120,000 tonnes were purchased at the price of US$177.17 per ton.

Recently, the state-owned GASC agreed on buying 60,000 tonnes of Russian wheat by public tender, with average price of US$177.09 per one ton. The 60,000 tonnes are set to be shipped during September 11 – 20, 2016.

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