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Russian wheat offered lowest at Egypt's GASC tender at $196.86T

Thursday 20/June/2019 - 10:15 AM
wheat (file photo)
wheat (file photo)
Edited by Hassnein Tayea

An Egyptian state tender for wheat attracted a lowest offer of $196.86 per tonne for 55،000 tonnes of Russian wheat، traders said on Thursday، according to Reuters.

 

The offer was presented by Glencore.

 

Egypt’s state grains buyer، the General Authority for Supply Commodities (GASC)، said on Wednesday it was seeking an unspecified quantity of wheat for shipment on 22-31 July.

 

An offer for Ukrainian wheat presented by Louis Dreyfus was disqualified because it did not meet the tender specifications.

 

GASC adjusted its acceptable grade for wheat from Ukraine last week after the country introduced new standards for the grain.

 

At its most recent wheat tender on June 11، GASC bought 120،000 tonnes of Russian and Romanian wheat for shipment on July 11-21.

 

The results are expected later on Wednesday.

 

Traders gave the following breakdown of offers per tonne on a free-on-board (FOB) basis:

 

* Glencore: 55,000 tonnes of Russian wheat at $196.86

 

* ADM: 55,000 tonnes of Russian wheat at $204.00

 

* ADM: 60,000 tonnes of Romanian wheat at $202.49

 

* Louis Dreyfus: 60,000 tonnes of Russian wheat at $201.00

 

* Louis Dreyfus: 60,000 tonnes of Ukrainian wheat at $199.00 (disqualified)

 

* Cerealcom: 60,000 tonnes of Romanian wheat at $199.50

 

* GTCS: 60,000 tonnes of Russian wheat at $202.00

 

* GTCS: 60,000 tonnes of Russian wheat at $202.50

 

* Ameropa: 60,000 tonnes of Romanian wheat at $198.89

 

* Ameropa: 60,000 tonnes of Romanian wheat at $199.39

 

* Posco International: 60,000 tonnes of Russian wheat at $200.90

 

* Posco International: 55,000 tonnes of Russian wheat at $198.99

 

* Posco International: 55,000 tonnes of Russian wheat at $200.90

 

* Garant Logistics: 60,000 tonnes of Russian wheat at $203.50

 

* CHS: 60,000 tonnes of Romanian wheat at $198.77

 

Traders said the following were the best offers including cost and freight (C&F):

 

* Glencore: 55,000 tonnes of Russian wheat at $196.86 and $14.35 freight equating to $211.21

 

* CHS: 60,000 tonnes of Romanian wheat at $198.77 and $12.45 freight equating to $211.22

 

* Ameropa: 60,000 tonnes of Romanian wheat at $198.89 and $12.45 freight equating to $211.34

 

* Ameropa: 60,000 tonnes of Romanian wheat at $199.39 and $12.45 freight equating to $211.84

 

* Cerealcom: 60,000 tonnes of Romanian wheat at $199.50 and $12.45 freight equating to $211.95

 

* Posco International: 55,000 tonnes of Russian wheat at $198.99 and $13.93 freight equating to $212.92

 

* Posco International: 60,000 tonnes of Russian wheat at $200.90 and $13.45 freight equating to $214.35

 

* Louis Dreyfus: 60,000 tonnes of Russian wheat at $201.00 and $13.45 freight equating to $214.45

 


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