Egypt's GASC buys 60,000 tonnes of Romanian wheat in tender

The offer was believed to have been submitted by trading house Cofco for 60,000 tonnes

  
Bundles of wheat are pictured as farmers work in a field in the Gharbia Governorate, as Egypt ramps up efforts to slow the spread of the coronavirus disease (COVID-19), Egypt May 14, 2020.

Bundles of wheat are pictured as farmers work in a field in the Gharbia Governorate, as Egypt ramps up efforts to slow the spread of the coronavirus disease (COVID-19), Egypt May 14, 2020.

REUTERS/Mohamed Abd El Ghany

HAMBURG- Egypt's state grains buyer, the General Authority for Supply Commodities (GASC,) said on Monday it had bought 60,000 tonnes of Romanian wheat in an international tender.

GASC had been seeking the grain for shipment between Sept. 24 and Oct. 4.

GASC gave no further details.

Traders said the purchase was all made from trading house Cofco at $261.49 a tonne FOB plus $32.25 a tonne freight (ocean shipping costs), equating to $293.74 a tonne c&f.

The tender had offered with payment using 180-day letters of credit.

In its last tender on July 27, GASC bought 180,000 tonnes at the lowest price of $244.50 FOB plus $34.50 freight, equating to $279.00 a tonne c&f. 4

Traders said earlier on Monday that rising prices in the Black Sea region and the difficulty of estimating prices in the shipment period had reduced participation in the tender. 

(Reporting by Nadine Awadalla and Michael Hogan; editing by David Evans) ((Nadine.Awadalla@thomsonreuters.com;))


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