Egypt purchased in the tender of 530 thousand tons of Russian wheat

2020-08-26 12:13:33
Machine translation
Egypt purchased in the tender of 530 thousand tons of Russian wheat

Yesterday, the Egyptian GASC bought at the tender 530 thousand tons of Russian wheat protein 12.5%, and the supply of 11-20 and 21-31 October at an average price of 213,11 $/t FOB or 227,98 $/t CFR, which 6.39 $/t FOB and for 5.35 $/t CFR exceeds the purchase price of the previous trading session.

 

Egyptian tenders have become one of the main indicators of prices for black sea wheat, which this year is almost no competition on the market is the world's largest importer of wheat, because of low yields in France and Romania, which are the main exporters of the EU, the price of European wheat became too high. On the Egyptian market are now competing Ukrainian and Russian wheat. And against the background of projections of increase in harvest in Russia, the Russian sellers greatly increase prices and is prepared to lower them in order to win tenders.

 

At yesterday's tender was submitted 19 proposals of Russian wheat and Ukrainian 5. Compared to the auction on August 13 bid prices of Ukrainian wheat grew by 11.17 of 14.2 $/MT to 218,97-222 $/MT FOB, while Russian only 6.9-9,65 $/t to 213-220,1 $/MT FOB.

 

the tender was purchased the following wheat:

the

120 thousand tonnes of Agro AST for the price 213,33 $/t FOB or 227,86 $/t CFR,

110 kt in the company GTCS for the price of 213 $/t FOB or 228,73 $/t CFR,

180 thousand tons of Grain Export company at a price of 213 $/t FOB or 228.35 $/t CFR.

  • 120 thousand tonnes of Solaris at a price 213,33 $/t FOB or 227,83 $/t CFR,

 

At the last tender of the purchase price back to the price level of tenders in the second half of July 2020, when GASC bought wheat for delivery in August 227-228 $/t CFR.

 

After a slight decline in world market prices of wheat in early August, a week they grow on the back of speculative price increase for all crops, especially cereals, oilseeds, and lower forecasts of corn production.

 

According to the USDA estimations, in 2020/21 MG Egypt will reduce compared with the previous season the import of wheat from 13.3 to 13 million tonnes, as fearing strengthening of quarantine restrictions during a pandemic Covid-19 stepped up their purchasing activity and created significant reserves of wheat.

 

in comparison with the previous season, the consumption of wheat in Egypt in 2020/21 MG can grow from 20.6 to 20.8 million tons and production from 8.77 to 8.9 million tons.

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