The purchase price of wheat in Egypt had risen by 2.25 $/t

2019-12-11 12:04:45
Machine translation
The purchase price of wheat in Egypt had risen by 2.25 $/t

At yesterday's tender, the Egyptian GASC bought 355 thousand tons of French, Romanian, Ukrainian, and Russian wheat protein 12.5% and delivery 5-15 February at an average price of 222,44 $/t FOB or 238,19 $/t CFR, which is 2.25 $/t higher than at the previous auction, when it was purchased 295 thousand tons of Russian wheat at a price 221,9 $/t FOB or 235,94 $/t CFR. We will remind that on tender November 13, was contracted, 465 thousand tons of wheat with delivery 1-15 January at an average price of 217,91 $/t FOB or 232,36 $/t CFR. This indicates a gradual increase in the purchase price both on FOB basis and CFR port of the buyer.

 

In the previous session cheap on FOB basis was French wheat, however, due to the low cost of freight, won the Russian.

 

Yesterday the auction took 18 offers French, Romanian, Ukrainian, and Russian wheat at a price 220,86-to 227.4 $/t. the cheapest (220,86 $/t FOB) was again French wheat, which confirms the high competitiveness of European grain in comparison with the Russian.

 

Prices of Russian wheat on FOB basis compared to the previous tender has increased by 1,54-2,42 $/t, Ukrainian – 0.28 $/ton, while the price of French fell by 1.56 $/t

 

in General, the tender, GASC purchased the following parties:

60 KMT of Ukrainian wheat from Nibulon company at a price 237,47 $/t CFR (222,5 $/t FOB + 14,97 $/t freight),

55 KMT of Russian wheat from ADM company at a price 238,35 $/t CFR (223 $/t FOB + 15,35 $/t freight),

60 thousand tons of Russian wheat from Posco for a price of 238,4 $/t CFR (223,91 $/t FOB + 14,49 $/t freight),

60 KMT of Romanian wheat from Ameropa company at a price 238,25 $/t CFR (222,5 $/t FOB + 14,97$/t freight).

  • 120 KMT of French wheat from Glencore at a price 238,34 $/t CFR (220,3 $/t FOB + 18,04 $/t freight),

 

Egypt remains the world's largest buyer of wheat, importing annually to 12.5 million tonnes, Half of this volume GASC buys, so it tenders considered powerful indicators of global price trends.

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