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|11 April, 2019

Egypt's GASC seeks wheat for May 20-June 5 shipment

GASC will pay for wheat purchased in the tender by opening letters of credit on sight, instead of using a deferred payment system.

An Egyptian farmer carries a bundle of freshly harvested wheat during the launch of the Government's local wheat harvest at a field at Beni Suef, south of Cairo, south of Cairo, Egypt April 24, 2017.

An Egyptian farmer carries a bundle of freshly harvested wheat during the launch of the Government's local wheat harvest at a field at Beni Suef, south of Cairo, south of Cairo, Egypt April 24, 2017.

REUTERS/Amr Abdallah Dalsh

DUBAI  - Egypt's General Authority for Supply Commodities (GASC) set a tender on Thursday to buy an unspecified amount of wheat from global suppliers for shipment from May 20 to June 5.

GASC Vice Chairman Ahmed Youssef said the authority was seeking to buy cargoes of soft and/or milling wheat from the United States, Canada, Australia, France, Germany, Poland, Argentina, Russia, Kazakhstan, Ukraine, Romania, Bulgaria, Hungary, Paraguay and Serbia.

Tenders should reach GASC by noon local time (1000 GMT) on Friday. The results should come out after 3:30 p.m. local time on the same day. Wheat bids should be free-on-board, with a separate freight offer.

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GASC will pay for wheat purchased in the tender by opening letters of credit on sight, instead of using a deferred payment system.

At its previous wheat tender on March 26, GASC bought 120,000 tonnes of U.S. soft red wheat. For that purchase, GASC reverted to paying its grain suppliers within 180 days, instead of immediately.

For the latest tender, GASC is seeking to buy 55,000 to 60,000-tonne cargoes of the following:

U.S. North Pacific soft white wheat;

U.S. hard red winter wheat;

U.S. soft red winter wheat;

Russian milling wheat;

Ukrainian milling wheat, and

Australian standard white wheat.

GASC is also seeking 60,000-tonne cargoes of the following:

Canadian soft wheat;

French milling wheat;

German milling wheat;

Argentine bread wheat;

Polish milling wheat;

Kazakh milling wheat;

Romanian milling wheat;

Bulgarian milling wheat;

Hungarian milling wheat, and

Paraguayan milling wheat.

(Reporting by by Maha El Dahan in Dubai; writing by Julie Ingwersen in Chicago Editing by James Dalgleish and Alistair Bell) ((Julie.ingwersen@thomsonreuters.com; 1-312-408-8710; Reuters Messaging: julie.ingwersen.thomsonreuters.com@reuters.net))

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