At the tender in Egypt, Romanian wheat was cheaper than Ukrainian and Russian wheat

< span style="font-size:14px;">against the background of lower world wheat prices, Egyptian GASC yesterday held the third tender for the purchase of wheat of the 2021 harvest, where it purchased 240 thousand tons of Romanian flour wheat.

< span style="font-size:14px;">at the first tender for the purchase of new crop wheat, which took place on April 6, 345 thousand tons of Ukrainian and Russian wheat were contracted for delivery in August at an average price of F 233.65/ton FOB or am 252.10/ton C&F, while the second tender was canceled, as the prices of offers submitted for it increased by 3 30-35/ton to 268.48-F 297/ton fob, the cheapest of which was Romanian wheat.

< span style="font-size:14px;" > the prices of bids submitted for the tender on May 24 were 1 15-20/t lower and amounted to румун 254-269.99/t FOB for Romanian wheat, української 260.2 – 268.5/t FOB for Ukrainian wheat, російської 264-274. 79/t FOB for Russian wheat,and французької 269.74/t FOB for French wheat. Romanian wheat was again the cheapest, indicating increased competition between European and Russian wheat in the new season amid higher harvest forecasts.

< span style="font-size:14px;">as a result, GASC purchased 240 thousand tons of Romanian wheat for delivery on August 8-22, 2021 at an average price of 2 257.6/ton FOB or. 276.6/ton C&F, which is 2 23.95/ton FOB and.24.5/ton C&F higher than at the tender on April 6.  

< span style="font-size:14px;">in particular, it was purchased:< / span>< / p>

• < span style="font-size:14px;">60 thousand tons at Grain Export at a price of F 254/ton FOB or C 273/ton C & amp; F,< / span> < / li>
• 60 thousand tons at Glencore at a price of 2 258.8/ton FOB or C 277.8/ton C&F, < / li>
• < span style="font-size:14px;">120 thousand tons at ADM at a price of 2 258.8/ton FOB or C 277.8/ton C&F.

< span style="font-size:14px;">Egypt remains the world's main buyer of wheat, and according to the USDA forecast, it will import 13.2 million tons of wheat in my 2021/22. Therefore, Russian exporters immediately react to the loss of Egyptian tenders and lower prices at subsequent auctions in order to remain the main suppliers of grain in the region.