Egypt purchased in the tender 240 thousand tons of Russian wheat

Egypt has again started holding tenders for the purchase of wheat. The Agency on 22 September GASC purchased 240 thousand tons of Russian wheat for delivery from 21 to 31 October 2016.

This tender was the first after the abolition of Egypt's demands for zero content of ergot in grain. But most traders ignored him, deciding only to observe the course of trading, as Egypt has significantly undermined its credibility as a reliable partner.

the tender was also held difficult. Bids from 4 suppliers appeared only after GASC bogutcharovo took a break and promised to do the test wheat imported by Egyptian inspectors in the port of shipment only and final.

in General, there were purchased:

• 60 thousand tons of Russian wheat from Aston at the price of $179/t FOB at the rate sea freight 7,80 $/t = 186,80 $/t C&F
• 180 thousand tons of Russian wheat from Union company at a price 178,68 $/t FOB at the rate of 8.43 ocean freight $/ton = 187,11 $/t C&F.

Return major importer of wheat will revive the market and stop the decline in wheat prices that occurred in the last month.