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Egypt's GASC says buys 115,000 T US wheat - Daily News Egypt

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Egypt’s GASC says buys 115,000 T US wheat

By Sherine El Madany / Reuters CAIRO: Egypt, the world’s largest wheat importer, has bought 115,000 tons of US soft red winter wheat for May 21-31 shipment on a free on board basis, the main government wheat buyer said on Thursday. Nomani Nomani, vice chairman of the General Authority for Supply Commodities (GASC), gave the following …


By Sherine El Madany / Reuters

CAIRO: Egypt, the world’s largest wheat importer, has bought 115,000 tons of US soft red winter wheat for May 21-31 shipment on a free on board basis, the main government wheat buyer said on Thursday.

Nomani Nomani, vice chairman of the General Authority for Supply Commodities (GASC), gave the following breakdown of the purchases:

– 55,000 tons of US soft red winter wheat from Alex Grain at $259.75 per ton with freight costs of $24 per ton

– 60,000 tons of US soft red winter wheat from Venus at $259.75 per ton with freight costs of $26 per ton

Since the start of the 2011/12 fiscal year on July 1, GASC’s purchases have been dominated by Black Sea origin wheat.

GASC has purchased 3.24 million tons of Russian wheat, 180,000 tons of Romanian wheat, 360,000 tons of Ukrainian wheat, 60,000 tons of Russian, Ukraine or Kazakh wheat at the seller’s option and 60,000 tons of Russian or Kazakh wheat at the seller’s option since the beginning of July.

It also bought 300,000 tons of French wheat and 300,000 tons of Argentine wheat as well as 530,000 tons of US soft red winter wheat and 60,000 tons of Canadian wheat.

In the fiscal year that ended on June 30, 2011, GASC purchased some 5.58 million tons of French, US, Canadian, Australian and Argentine wheat.

Bids

Traders said the following bids were made in tons with dollar price per ton on an FOB basis unless stated otherwise:

– Louis Dreyfus: 60,000 US soft red winter $265.97

– Venus: 60,000 US soft red winter $259.75

– Toepfer: 60,000 US soft red winter $263.93; 60,000 Argentine $259.93 from two load ports

– Alex Grain: 55,000 US soft red winter $260.99

– Bunge: 60,000 Argentine $257.89 from one load port; 60,000 US soft red winter $264.80

– Cargill: 60,000 US soft red winter $268.45; 60,000 Argentine $264.45 from two load ports; 45,000 Russian $279.45

– Glencore: 60,000 French $290 from two load ports; 60,000 Argentine $259.90 from two load ports

– Nidera: 60,000 Ukranian $278.26 from two load ports; 60,000 Russian $285

Freight bids

Traders also said the following freight (ocean shipping) bids were made in the tender in dollars a ton:

– US Gulf: NNC $26, Mina $27.04, EgyBulk $28

– East Coast: NNC $24, EgyBulk $27.75

– Argentina: Sadat $28.94, NNC $32.67

– France: Ibramar $15.15 –Additional reporting by Michael Hogan in Hamburg and Valerie Parent in Paris

 

 

 

Topics: wheat imports

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