Egypt purchased 60 thousand tons of wheat from-for sharp growth of prices
Egyptian State operator GASC to tender yesterday bought 60 KMT of French wheat from Glencore delivery 5-15 November at a price 199,1 $/t FOB or 219,35 $/t CFR, which is on FOB basis at 2.46 $/t purchase price exceeds the previous tender on September 25 when purchased it was 300 thousand tons of Russian and French wheat at an average price of 214,02 $/t CFR. On the background of the problems with the harvest in Canada, Australia and Argentina, the world price of wheat rose sharply last week.
to participate in the auction were submitted 16 proposals of the Ukrainian, Russian and French wheat, American wheat did not participate in the tender, because its price is 30 $/t higher than the prices of competitors.
Due to the low exchange rate of the Euro was the cheapest French wheat, although its price per week also grew by 5.4-10,05 $/t
the tenders were invited the next batch of Ukrainian wheat with delivery in the period 5-15 November:
60 kt from Dreyfus at a price 203,97 $/t,
and 55 kt from Hakan Agro at a price 202,95 $/t 15-25 November.
- 55 kt from the company Hakan Agro at a price 201,35 $/t,
the Russian wheat was represented by the following bids:
Garant Logistics 60 thousand tons for 207 $/t (5-15, 15-25 November),
GTCS 60 thousand tons for 207 $/t (5-15 Nov),
Aston 55 kt at 208 $/t (15-25 November),
Posco 60 thousand t in 203,5 $/t (5-15 Nov) and 55 kt at 204,5 $/t (15-25 November),
Glencore 55 kt at 205,25 $/t (5-15 November).
- Cargill 55 kt for 205 $/t (supply 5-15 November) and 55 kt at 203 $/tonne (15-25 November),
In comparison with the previous tender, the average price of the proposals of Ukrainian wheat rose 1.4 of 3.82 $/t, Russian – 6,55-of 11.55 $/t
Egyptian GASC is one of the world's largest buyers of wheat, which buys more than half of the country imported 12.5 million tons of wheat a year. So its price tenders are considered influential markers for the wheat market.
