Egypt’s GASC receives offers for wheat tender
The lowest offer in Egyptian state buyer GASC’s wheat purchase tender that closed on Friday was $196.74 a tonne free on board (FOB) for French wheat, traders said.
The offer was made for 60,000 tonnes, they said.
No purchase has yet been made and results are expected later on Friday, traders said.
The wheat is for shipment on Nov. 11-20.
Traders said the following offers were submitted to GASC in the first round of the tender on Friday (in dollars a tonne FOB):
*Soufflet: 60,000 tonnes French at $196.74
*Union Co.: 60,000 tonnes Russian at $198.11
*ADM: 60,000 tonnes Romanian at $198.69
*Cargill: 60,000 tonnes French at $198.80
*Cargill: 55,000 tonnes Russian at $199
*ADM: 60,000 tonnes Russian at $199.69
*Invivo: 60,000 tonnes French at $201
*Lecureur: 60,000 tonnes French at $201.40
*Bunge: 60,000 tonnes French at $203
*Vitol: 60,000 tonnes Russian at $203
*Glencore: 55,000 tonnes Russian at $206
Traders also said the shortlist of best offers on a cost and freight basis (C&F) was as follows:
*Union Co.: 60,000 tonnes of Russian wheat at $198.11 a tonne FOB and $7.89 a tonne freight equating to $206 a tonne C&F
*ADM: 60,000 tonnes Romanian wheat at $198.69 a tonne FOB and $9.39 a tonne freight equating to $208.08 a tonne C&F
*ADM: 60,000 tonnes of Russian wheat at $199.69 a tonne FOB and $9.24 a tonne freight equating to $208.93 a tonne C&F
*Soufflet: 60,000 tonnes French wheat at $196.74 a tonne FOB and $12.22 a tonne freight equating to $208.96 a tonne C&F
The following is the full list of freight (ocean shipping) offers made to transport the wheat purchased in the tender, in dollars per tonne:
Romania
*National Navigation: $9.39
*United Marine: 9.37
*Venus: $9.19
France
*National Navigation: $14.35
*Venus: $12.22
Russia
*National Navigation: $9.24 for 60,000-tonne cargo and $10.39 for 55,000-tonne cargo
*United Marine: &9.37 for 60,000-tonne cargo and $9.87 for 55,000-tonne cargo
*Union: $7.89 (for own cargo)
*Cargill: $10.50 (for own cargo)
Source: Reuters
