Egypt’s GASC receives offers in wheat tender – traders
The lowest offer in Egyptian state buyer GASC’s wheat purchase tender which closed on Tuesday was $197.50 per tonne free on board (FOB) for Ukrainian wheat, traders said.
The offer was made for 55,000 tonnes, they said.
No purchase has yet been made and results are expected later on Tuesday, traders said.
Traders said the following offers were submitted to GASC in the first round of the tender (in dollars a tonne FOB):
*Venus: 55,000 tonnes of Ukraine wheat at $197.50
*Glencore: 60,000 tonnes of French wheat at $201.55
*Soufflet: 60,000 tonnes of French wheat at $202.14
*Lecureur: 60,000 tonnes of French wheat at $202.60
*Louis Dreyfus: 60,000 tonnes of French wheat at $202.94
*Invivo: 60,000 tonnes of French wheat at $203.16
*Bunge: 60,000 tonnes of French wheat at $203.24
*Union Co.: 60,000 tonnes of Russian wheat at $203.66
*BTG: 55,000 tonnes of Russian wheat at $204
*Cargill: 60,000 tonnes of French wheat at $205
*Noble: 60,000 tonnes of Russian wheat at $206.70
*ADM: 60,000 tonnes of Russian wheat at $207.90
Traders said the shortlist of best offers on a cost and freight (C&F) basis was as follows:
*Union Co.: 60,000 tonnes of Russian wheat at $203.66 a tonne FOB and $6.66 a tonne freight equating to $210.32 a tonne C&F
*Venus: 55,000 tonnes of Ukraine wheat at $197.50 a tonne FOB and $13.69 a tonne freight equating to $211.19 a tonne C&F
*BTG: 55,000 tonnes of Russian wheat at $204 a tonne FOB and $9.18 a tonne freight equating to $213.18 a tonne C&F
*Glencore: 60,000 tonnes of French wheat at $201.55 a tonne FOB and $12.18 a tonne freight equating to $213.73 a tonne C&F
*Soufflet: 60,000 tonnes of French wheat at $202.14 a tonne FOB and $12.18 a tonne freight equating to $214.32 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:
Ukraine
*National Navigation: $13.69
*United Marine: $11.98
France
*National Navigation: $12.18
*United Marine: $11.08
*Venus: $11.27
Russia
*National Navigation: $7.99 for 60,000 tonne cargo and $9.18 for 55,000 tonne cargo
*United Marine: $8.49 for 60,000 tonne cargo and $8.99 for 55,000 tonne cargo
*Union: $6.66 for own cargo
Source: Reuters
