Egypt buys 180,000 T Russian, Romanian wheat
Cairo, June 22, 2014
Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said it bought 180,000 tonnes of Russian and Romanian wheat for shipment August 1 to 10.
Mamdouh Abdel Fattah, the vice chairman of GASC, gave the following breakdown of the purchase: 60,000 tonnes of Russian wheat from Louis Dreyfus; 60,000 tonnes of Romanian wheat from Cargill; 60,000 tonnes of Romanian wheat from Bunge.
GASC said it purchased the wheat at an average price of $262.39 per tonne on a cost and freight basis.
This latest purchase marks GASC's 26th international tender since the removal of Mohamed Mursi from the presidency in July. The grain buyer has so far purchased 5.46 million tonnes of wheat on the international market.
It is also the second tender in which GASC raised its tolerance for moisture content in wheat to 13.5 percent after a change introduced in January had ruled out any wheat with a moisture content of more than 13 percent.
January's more stringent specification had mostly ruled out French wheat as the average moisture content in the 2013 French wheat harvest was 13.5 per cent.
Still, Black sea prices remained competitive and no French wheat was sold in Saturday's tender.-Reuters