The purchase price of wheat at tender Egypt has grown by 15-17 $/t

At yesterday's Egyptian tender operator GASC has purchased 420 thousand tonnes of soft milling wheat with delivery of 1 to 10 September.

in Particular, it was purchased:

120 thousand tons of Romanian wheat from companies Umehara and ADM at the price 220,4 $/t FOB and freight rate of 14.93-15,25 $/t,

60 KMT of Ukrainian wheat from Dreyfus company at a price 218,85 $/t FOB and freight rate of 17.14 $/t

• 240 thousand tons of Russian wheat from three companies for the price of 217,95-221 $/t FOB and freight cost 15-16,25 $/t,

the problems with the harvest in Russia, which is the main supplier of wheat to Egypt, led to a sharp jump in prices on the stock exchanges and the physical market, that August futures of Russian wheat has grown to 208-212 $/t FOB. It is therefore very surprising was the average purchase price of wheat by Egypt of $220/MT FOB, given that at the end of June, the Russian wheat GASC purchased for 202 $/t FOB.

rising input prices increases the competitiveness of European wheat in the Egyptian market, where in recent years dominated the Russian grain.