Egypt's GASC buys 180,000 tonnes of French wheat

Thursday 08-01-2015 06:24 PM
Egypt's GASC buys 180,000 tonnes of French wheat

A field of wheat is seen during harvest in Orezu, southeastern Romania, July 2, 2014. REUTERS/Bogdan Cristel

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ABU DHABI, Jan 8 (Reuters) - Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said on Thursday it had bought 180,000 tonnes of French wheat in a tender for shipment Feb. 8-18.

Egypt, the world's biggest importer of wheat, bought 60,000 tonnes from Lecureur and 120,000 tonnes from Glencore, Mamdouh Abdel Fattah, GASC vice chairman, said.

The wheat was purchased at an average price of $263.64 a tonne on a cost-and-freight basis,Abdel Fattah said.

Traders gave the following breakdown of the purchase:

-60,000 tonnes from Lecureur at $248.94 a tonne free on board and $12.50 a tonne freight

-60,000 tonnes from Glencore at $250.25 a tonne fob and $14.50 a tonne freight

-60,000 tonnes from Glencore at $250.25 a tonne fob and $14.50 a tonne freight

Egypt has bought 3.085 million tonnes of wheat on the international market since July 1, the start of the fiscal year.

It purchased 5.46 million tonnes of wheat from overseas in the 2013-2014 fiscal year in addition to 3.7 million tonnes of local wheat.

OFFERS

Traders said the following offers were presented, in dollars a tonne, on a free-on-board basis, unless otherwise stated:

*Lecureur: 60,000 tonnes of French wheat at $248.94

*Nidera: 60,000 tonnes of Argentine wheat at $252, 60,000 tonnes of French wheat at $254.95, 60,000 tonnes of Romanian wheat at $261.50

*Glencore: 60,000 tonnes of French wheat at $252.87

*Granit: 60,000 tonnes of French wheat at $254.95

*Soufflet: 60,000 tonnes of French wheat at $256.44

*Cargill: 60,000 tonnes of French wheat at $257

*Bunge: 60,000 tonnes of French wheat at $259.87

*Nidera: 60,000 tonnes of Romanian wheat at $261.50

*Ameropa: 60,000 tonnes of Romanian wheat at $264

FREIGHT

Traders also said the following freight (ocean shipping) offers were made in the tender, in dollars per tonne:

Romania

*National Navigation: $9.25

*Ameropa: $7.88

France

*National Navigation: $14.50

*United: $12.50

Argentina

*Nidera: $18

*Mina Shipping: $25.60

(Reporting by Maha El Dahan; Additional reporting by Michael Hogan in Hamburg and Valerie Parent in Paris; Editing by Michael Urquhart and Dale Hudson)

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