The purchase price of wheat at the tender in Egypt for the week increased by another 4 4.3 / ton

On November 1, the Egyptian state agency GASC held another tender for the purchase of food wheat, the price of which increased by 4 4.3/ton compared to last week's auction. in general, on the CFR basis, the purchase prices of the 2021 crop at GASC tenders increased by.114/ton starting from April 6.

Compared to the previous auction, the number of bids submitted for the tender decreased from 12 to 7 (Russian wheat – 5, Romanian wheat – 2) due to the lack of offers of Ukrainian wheat. The cheapest on the FOB basis was again Russian wheat, which was offered at 3 331.9-3 340.99/ton, while prices for Romanian wheat were F 337-340/ton FOB.

As a result, GASC purchased the cheapest 180 thousand tons of Russian wheat for delivery on December 11-20 at an average price of 332.33 $/t FOB or 364.26 $/t C&F, which is 4.28 $/t FOB and 4.32 $/t CFR higher than at the previous auction on October 27, 12.66 $/t CFR higher than at the tender on October 6, and 19.32 $/t CFR higher than at the tender on September 8.

The following batches of Russian wheat were purchased at the tender:

• 60 thousand tons from Agro AST at the price of F 331.9/t FOB + freight 3 31.93 / T = 3 363.83 / T s & F,
• 60 thousand tons from Solaris Commodities SA at the price of 3 332.55 / t FOB + freight 3 31.93 / T = 3 364.48 / T s & F,
• 60 thousand tons from Posco at the price of F 332.55/t FOB + freight 3 31.93/T = 3 364.48 / T S&F.

In total, GASC has already held 13 tenders for the purchase of food wheat of the 2021 harvest, where it purchased 2.865 million tons for delivery from August 1 to December 20. The share of Romanian wheat in this volume was 1.26 million tons or 44%, Russian – 950 thousand tons (33.2%), Ukrainian – 655 thousand tons (22.9%).