Egypt’s GASC buys 235,000 tonnes of Russian, Romanian Wheat

Egypt’s state grain buyer, the General Authority for Supply Commodities (GASC), has bought 235,000 tonnes of Russian and Romanian wheat in a tender for Aug. 21-31 shipment, it said on Tuesday.

Egypt, the world’s largest importer of wheat, bought 60,000 tonnes of Russian wheat and 60,000 tonnes of Romanian wheat from ADM, another 55,000 tonnes of Russian wheat from Glencore, and 60,000 tonnes of Romanian wheat from Ameropa, GASC Vice-Chairman Mamdouh Abdel Fattah said.

GASC bought the wheat at an average price of $210.37 a tonne cost and freight, he said.

Traders gave the following breakdown of the purchase:

60,000 tonnes of Russian wheat from ADM at $199.75 a tonne on a free-on-board (fob) basis and $9.68 a tonne freight from United Marin

60,000 tonnes of Romanian wheat from ADM at $199.75 a tonne fob and $10.65 a tonne freight from National Navigation

55,000 tonnes of Russian wheat from Glencore at $198.50 a tonne fob and $12.30 a tonne freight from National Navigation

60,000 tonnes of Romanian wheat from Ameropa at $200.25 a tonne fob and $10.65 a tonne freight from National Navigation

It was the third tender since the start of the new fiscal year on July 1.

Source: Reuters