Egyptian GASC purchased 600 thousand tons of wheat at a price of 6 6.3 / ton more expensive than 2 weeks ago
On November 29, the Egyptian state food procurement operator GASC held an international tender for the purchase of food wheat for delivery on January 9-20, 2022. Traders predicted that the volume of purchases will be insignificant, as world wheat prices have risen sharply, although there is a gradual decline in quotations on the exchanges.
The number of applications submitted for the tender increased to 11, in particular, there were two offers of French wheat at the price of 359.79 and 361.95 f/ton FOB, one Ukrainian at the price of 355 української/ton FOB, and four Romanian and Russian at the price of 350.85-359 f/ton FOB and 351.37-362 f/ton FOB, respectively. Romanian wheat became the cheapest again.
As a result of the auction, GASC purchased 600 thousand tons of food wheat for delivery on January 9-20 at an average price of 352.37 $/t FOB or 378.33 $/t C&F, which is 5.4 $/t FOB and 6.36 $/t C&F higher than the purchase price of the previous tender dated November 17, and 15.4 $/t FOB and 10.98 $/t C&F - the tender price of November 1.
The following batches of wheat were purchased at the tender:
- 60 thousand tons of Romanian wheat from Al Dahra at the price of 3 350.85 / ton FOB + F 25.05 / ton freight = 3 375.9 / ton C & F,
- Solaris Commodities SA has 60 thousand tons of Russian wheat. at the price of F 351.37/t FOB + F 26.3 / T = C 377.67 / T C & F,
- 60 thousand tons of Russian wheat from ADM at the price of F 352.37/ton FOB + 2 26.3 / Ton = 3 378.67 / ton C & F,
- 60 thousand tons of Romanian wheat from Grain Export at the price of F 353.5/ton FOB + F 25.05 / Ton = 3 378.55 / ton C & F,
- 60 thousand tons of Russian wheat from Aston at the price of F 352.37/ton FOB + 2 26.3 / Ton = 3 378.67 / ton C&F,
- 120 thousand tons of Ukrainian wheat from LDC at the price of F 352/t FOB + 2 27.1 / T = C 379.1 / T C & F,
- 60 thousand tons of Romanian wheat from CHS at the price of F 353.5/ton FOB + 2 25.05 / Ton = 3 378.55 / ton C & F,
- 60 thousand tons of Romanian wheat from ADM at the price of F 353.5/ton FOB + 2 25.05 / Ton = 3 378.55 / ton C & F,
- 60 thousand tons of Russian wheat from GTCS at the price of F 352.25/ton FOB + 2 26.3/Ton = 3 378.55 / ton C&F.
It is worth noting that the cost of freight is gradually decreasing, and now it is approximately 2 26/ton compared to 3 30-35/ton in September and yellow.
Egypt's GASC has already held 15 tenders in my 2021/22, where it purchased 3.525 million tons of flour wheat, mainly of Romanian origin.
