Egypt bought only the cheapest batch of wheat

Yesterday, the Egyptian operator GASC held another tender for purchase of wheat for delivery in October.

participated In it offers mostly Russian wheat, and one offer of Romanian wheat, while the Ukrainian grain somehow was not offered.

the tender was attended by such requisition (FOB, $/t):

- Garant Logistic 60 thousand t - 217.90 Novorossiysk

- ADM 60 thousand t - 224.95 Novorossiysk

- GTCS 60 thousand t - 226&228 Novorossiysk

- Cargill 55 thousand t - 225.5 Novorossiysk

- Ameropa 55 thousand t - 225.5 Novorossiysk

- Aston 60 thousand t - 225.20&227.50 Novorossiysk

- Daewoo 60 thousand t - 224.89 Novorossiysk.

• - Glencore 55 thousand t - 225.74 Taman

 Company Ameropa offered 60 thousand tons of Romanian wheat at the price 238.91 $/t FOB.

In the end, GASC bought only one party the cheapest of the proposed wheat Garant Logistic company with a volume of 60 thousand tons at a price 217,90 $/t FOB Novorossiysk at a freight rate of 17.1 $/t, which corresponds to the price of 235 $/t delivered to the port of destination. This price was 6 $/t below the price purchased a week ago, the party of Russian wheat for the same delivery date.

the Small volume of procurement shows that Egypt is hoping for a further fall in the price of wheat, and asks providers to reduce the offer price.