The purchase price of wheat at the tender in Egypt has increased again

Yesterday, the Egyptian state operator GASC held another tender for the purchase of food wheat, which was won by Ukrainian wheat with a large number of offers and a better price.

The number of applications submitted for the tender increased from 7 to 10 compared to previous auctions, including Ukrainian wheat – from 2 to 5. in addition, two applications were submitted by France and Russia, and one by Romania.

The cheapest on the FOB basis was again Ukrainian wheat, whose offer prices increased by 6 6-10/ton to 3 310.25 -. 316.45/ton.French wheat was offered at. 311.8/ton, Russian wheat – at. 317 and. 320/ton, Romanian wheat – at F 319.88/ton FOB. The cost of freight also varied greatly and ranged from 2 27/ton for deliveries from Russia to.41/ton for deliveries from France.

As a result, GASC purchased 300 thousand tons of Ukrainian and Russian wheat with 12.5% protein and delivery from October 25 to November 3 at an average price of F 313.09/ton FOB or C 344.93/ton CFR, which is 6 6/ton FOB or C 4.48/ton CFR higher than at the previous auction on August 30.

The following batches of wheat were purchased at the tender:

• Nibulon has 60 thousand tons of Ukrainian wheat at the price of F 310.25/ton FOB + 3 32.9 / ton freight = 3 343.15 / ton CFR,
• Dreyfus, Olam and Inerco Trade have 180 thousand tons of Ukrainian wheat at a price of 3 312.9 / ton FOB + + 32.9 / ton freight = 3 345.8 / ton CFR,
• 60 thousand tons of Russian wheat from GTCS at the price of F 316.5/ton FOB+. 27.3/ton freight = 3 343.8/ton CFR.

Recall that at the previous tender on August 30, GASC purchased 120 thousand tons of Romanian and 60 thousand tons of Ukrainian wheat. I am glad that Ukrainian wheat is increasingly winning GASC tenders, where at the beginning of the season the main winner was Romanian wheat. Russian sellers keep offer prices at a high level, which allows Romanian and Ukrainian traders to actively sell their grain at very significant prices, as at the beginning of the season.