Egypt acquired in the tender way mostly European wheat

2021-02-03 12:06:47
Machine translation
Egypt acquired in the tender way mostly European wheat

Egyptian Yesterday GASC conducted a tender for the purchase of wheat, once in January canceled a tender to too high prices of proposals for Russian wheat reached 315 $/t FOB, and European – 293-297 $/t FOB.

 

Within three weeks that have passed, the price proposals of the European wheat increased slightly, and the Russian has decreased, but not enough to win the tender GASC. French wheat was offered at 293,75-296,5 $/t FOB, Romanian – on 299,6-302,46 $/t FOB, Russian and Ukrainian – 295,8-303 $/t FOB.

 

In the end, after trading with sellers GASC purchased in the tender 480 thousand tons of wheat primarily of French origin delivery 15-30 Mar at an average price of 293,23 $/t FOB or 311,58 $/t CFR, which by 23.74 $/t FOB or of 28.51 $/t CFR higher than in the previous tender on 15 December, where it was acquired 235 thousand tons of Romanian and Ukrainian wheat 1-15 February.

 

this year's First victory of French wheat in the Egyptian tender indicates a greater willingness of European traders to lower prices than Russian.

 

the tender was purchased the following roles:

  • 240 thousand tons of French wheat from the company Soufflet and Viterra for 291,7 $/t FOB with freight rates 20,25 $/t = 311,95 $/t C&F;
  • 120 thousand tons of Russian wheat from the Solaris in 295,8 $/t FOB with freight rates 15,40 $/t = 311,20 $/t C&F;
  • 60 thousand tons of Romanian wheat from the company at CHS 295,6 $/t FOB with freight rates 15,63 $/t = 311,23 $/t C&F;
  • 60 thousand tons of Ukrainian wheat from company LDC for 294,85 $/t FOB with freight rates 16,35 $/t = 311,2 $/t C&F.

 

as a Result of high price and increasing the purchase of grain by private importers in 2020/21 MG Egyptian state operator GASC purchased tenders only 4 million tons of wheat, which is 20% less than the corresponding indicator of the previous season.

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