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Lowest offer at Egypt's wheat tender for Russian wheat

Lowest offer at Egypt's wheat tender for Russian wheat

Cairo: The lowest offer at Egypt’s state grain buyer GASC’s wheat purchasing tender was $203.65 per tonne for 60,000 tonnes of Russian wheat, traders said on Tuesday.

The offer was made by supplier Daewoo.

The lowest offer after accounting for shipping costs was also the Daewoo offer, for $219.35 per tonne.

GASC is seeking an unspecified amount of wheat for Aug. 21-31 shipment and the results are expected later on Tuesday.

Egypt, one of the world’s top wheat importers, ended its local harvest last month after having procured 3.15 million tonnes from farmers, below its target of 3.5-4 million tonnes and one of its lowest tallies in years.

Traders gave the following breakdown of the offers in dollars per tonne on an FOB basis:

Russian:

*Alegrow: 60,000 tonnes at $209.95

*GTCS: 60,000 tonnes at $204.75; 60,000 tonnes at $207.00

*Orsett: 55,000 tonnes at $204.50

SPONSORED STORIES

*ADM: 60,000 tonnes at $210.65

*Daewoo: 60,000 tonnes at $203.65

Ukrainian:

Louis Dreyfus: 60,000 tonnes at $210.00

Romanian:

Ameropa: 60,000 tonnes at $216.97

Traders said the best cost and freight (C&F) offers in dollars per tonne were as follows:

*Daewoo: 60,000 tonnes Russian at $203.65 and $15.70 freight equating to $219.35 C&F

*GTCS: 60,000 tonnes Russian at $204.75 and $15.70 freight equating to $220.45 C&F

*Orsett: 55,000 tonnes Russian at $204.50 and $16.50 freight equating to $221.00 C&F

*GTCS: 60,000 tonnes Russian at $207.00 and $15.70 freight equating to $222.70 C&F

*Alegrow: 60,000 tonnes Russian at $209.95 and $14.91 freight equating to $224.86 C&F

*ADM: 60,000 tonnes Russian at $210.65 and $15.75 freight equating to $226.40 C&F

Source: Reuters

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