Egypt purchases 175,000 tons of Russian wheat in a tender

Egypt purchased on Wednesday 175,000 tons of Russian wheat in a tender erected by the General Authority for Supply Commodities (GASC), Russian Union of Grain Exporters CEO Eduard Zernin said.

The bargain will supply across three shiploads according to the clearing and forwarding terms.

The cost and freight (C&F) are $480 per ton which commitment to the tender information.

This is the first tender for supply wheat in the new season that will begin on July 1.

“This is a fairly good result that shows confidence in our competitiveness on the global market, despite the hidden impediments of foreign banks and shipowners,” Zernin said.

Egypt awaiting five cargo ships carrying wheat imported from four countries, Yasser Tawfik, the head of the Procurement and Storage Sector at the Ministry of Supply and Internal Trade’s Holding Company for Silos, revealed on Wednesday.

Egypt ranks three in the top 10 importers of wheat from Russia, according to Russian Union of Grain Exporters statistics.

GASC is an Egyptian government agency that established to overcome the crises arising in the Egyptian market during the period of 1967 and the subsequent years, by commissioning a financially and administratively independent entity.