Russia again dominant as GASC settles wheat tender at $265/mt

Egypt’s state grain importer has picked up 420,000 mt of milling wheat, mostly sourced from Russia in an official tender that closed late on Tuesday, paying $265/mt FOB on average, trade sources have told Agricensus.

All cargoes were booked for delivery within February-March and with payment 180 or 270 days after a letter of credit is opened.

The state-backed General Authority for Supply Commodities (GASC) booked two 60,000 mt of Russian-origin wheat from Cereal Crops Trading, and another two 60,000 mt from Grain Flower, paying $265/mt FOB Novorossiysk/NKHP for the February 29-March 11 shipment.

The freight was provided by Langlois Enterprise at $20.75/mt, taking the CFR price to $285.75/mt.

In addition, Aston Agro-Industrial SA will supply 120,000 mt of wheat for loading from Kavkaz with AAI freight quoated at $20/mt and giving a final delivered price of $285/mt.

Finally, Nibulon sold 60,000 mt of Ukrainian wheat at $264.95/mt FOB Constanta for the same shipment period.

The freight was also covered by Langlois at $17.4/mt making the final CFR price 282.35$/mt.

In its previous tender closed on December 19, GASC picked up 480,000 mt of Russian milling wheat, paying $265/mt FOB on average.

For more information on recent GASC buying, please see our Tender Dashboard.