The purchase price of wheat in the tender in Egypt grew by almost 10 $/t
At yesterday's tender, the Egyptian GASC bought 300 thousand tons of Romanian, Ukrainian, and Russian wheat protein 12.5%, and the supply of 18-29 February at an average price of 232,23 $/t FOB or 245,71 $/t CFR, which is by 9.79 $/t exceeds the purchase price of the previous trading session on 10 December 2019 when was contracted, 355 thousand tons of wheat at an average price of 222,44 $/t FOB or 238,19 $/t CFR. By reducing the cost of the freight, the price of wheat on the basis of CFR increased only by 7.52 $/t
during the month of the bid prices of wheat on the tender rose from 220,86-to 227.4 $/t FOB to 231,77-239,22 $/t FOB. For two months the purchase price on the basis of CFR increased by 13,35 $/t Yesterday the cheapest was Ukrainian wheat, the most expensive Russian.
we will Remind that on tender of 3 December GASC bought 295 thousand tons of Russian wheat at a price 221,9 $/t FOB or 235,94 $/t CFR, and the tender 13 Nov – 465 thousand tons of Ukrainian and Russian wheat at an average price of 217,91 $/t FOB or 232,36 $/t CFR.
Yesterday, at the tender, GASC purchased the following parties:
the
60 thousand tons of Russian wheat at the company Garant Logistics at a price 245,45 $/t CFR (231,95 $/t FOB + 13,50 $/t freight),
60 thousand tons of Russian wheat from the company's Grain Export at a price 245,98 $/t CFR (232,48 $/t FOB + 13,50 $/t freight),
60 KMT of Romanian wheat from Ameropa company at a price 245,59 $/t CFR (232,79 $/t FOB + 12,80 $/t freight),
60 KMT of Romanian wheat from company COFCO for the price 245,59 $/t CFR (232,79 $/t FOB + 12,80 $/t freight).
- 60 KMT of Ukrainian wheat from Dreyfus company at a price 245,93 $/t CFR (231,16 $/t FOB + to 14.77 $/t freight),
On the background of gradual growth of prices once the tender will significantly support the wheat quotations this week.
Egypt is the world's largest buyer of wheat, annually importing 12.5 million tonnes, half of which GASC buys, for which he tenders considered powerful indicators of global price trends.
