Egypt's GASC buys 170,000 tonnes of wheat in tender

Egypt is looking to maintain strategic reserves of about six months in the face of uncertainty over global supply because of the COVID-19 pandemic

  
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

CAIRO- Egypt's state grains buyer, the General Authority for Supply Commodities (GASC), said on Tuesday it had bought 170,000 tonnes of wheat in an international purchase tender.

GASC said the purchase comprised 110,000 tonnes of Russian wheat and 60,000 tonnes of Ukrainian wheat for shipment Jan. 26-Feb. 5.

Traders gave the following breakdown of the purchase in dollars per tonne:

* Nibulon: 60,000 tonnes of Ukrainian wheat at $262.50 and $12.35 freight equating to $274.85

* Cargill: 55,000 tonnes of Russian wheat at $261.85 and $13.35 freight equating to $275.20

* GTCS: 55,000 tonnes of Russian wheat at $262.35 and $13.35 freight equating to $275.70

(Reporting by Nadine Awadalla, Michael Hogan and Maha El Dahan; Editing by Jan Harvey) ((Nadine.Awadalla@thomsonreuters.com;))

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