The purchase price of a wheat tender in Egypt decreased by 9 $/t

2020-06-19 12:02:26
Machine translation
The purchase price of a wheat tender in Egypt decreased by 9 $/t

Egyptian state operator GASC took advantage of the fall in world prices of wheat, caused by the June report, the USDA increased production forecasts and conducted the third in a new season of the tender, where he purchased 240 thousand tons of wheat, protein 12.5%, and delivery in August at an average price of 218,4 $/t CFR, which was by 8.85 4 $/t CFR lower than at the previous auction on June 10.

 

compared to the previous tender the number of proposals increased from 4 to 14, which led to a sharp decline in prices, which were in the range of 206,95-213,45 $/t FOB. Cheapest on FOB basis was the Russian wheat, but due to the low freight of Romanian wheat for delivery to Egypt turned out to be cheaper than buying last week, the Russian.

 

in General, the tender was purchased by the following parties:

the

60 KMT of Ukrainian wheat from Dreyfus company at a price 219,03 $/t (206,68 $/t FOB + freight 12,35 $/t)

60 thousand tons of Russian wheat at the company Hakan at a price 219,20 $/t (206,80 $/t FOB + freight 12.40 $/t)

60 thousand tons of Russian wheat from ADM company at a price 219,13 $/t (207,90 $/t FOB + freight at 11.23 $/t).

  • 60 KMT of Romanian wheat from Ameropa company at a price 216,23 $/t (205,5 $/t FOB + freight 10,73 $/t)

 

Egypt is the world's largest importer of wheat, according to USDA's 2020/21 MG acquire almost 13 million tonnes, half of which will acquire the state Agency GASC. Therefore, the tenders that it conducts, become an important price indicator for other market participants.

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