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Thursday, 24 October 2019

Egypt's GASC receives offers in wheat tender: Traders

Reuters , Tuesday 11 Jun 2019
wheat
File photo: Farmers harvest wheat on Qalyub farm in the El-Kalubia governorate, northeast of Cairo, Egypt May 1, 2016 Reuters
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Egypt’s first state purchase tender for wheat in two months attracted a lowest offer of $196.90 per tonne for 60,000 tonnes of Russian wheat, traders said on Tuesday.

The offer was presented by Aston.

Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC), said on Monday that it had adjusted the tender terms to remove penalties on delays at the port of arrival, which used to cost suppliers tens of thousands of dollars in demurrage fees. Traders welcomed the move.

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

The buyer has been out of the market for wheat since its last tender on April 12. It is seeking an unspecified quantity for shipment July 11-21.

GASC said it would pay suppliers by issuing letters of credit within 180 days with facilities.

The tender results are expected to be announced later on Tuesday.

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

* Aston: 60,000 tonnes of Russian wheat at $196.90

* Cofco: 60,000 tonnes of Romanian wheat at $197.49

* Orsett: 60,000 tonnes of Russian wheat at $199.60

* Ameropa: 60,000 tonnes of Romanian wheat at $202.50

* GTCS: 60,000 tonnes of Russian wheat at $202.70

* GTCS: 60,000 tonnes of Russian wheat at $203.20

* Ameropa: 60,000 tonnes of Romanian wheat at $203.99

* Glencore: 55,000 tonnes of Russian wheat at $206.12

* Ameropa: 60,000 tonnes of Russian wheat at $206.49

* ADM: 60,000 tonnes of Romanian wheat at $209.26

* ADM: 55,000 tonnes of Russian wheat at $209.75

* CHS: 60,000 tonnes of Romanian wheat at $214.99

* Cerealcom: 60,000 tonnes of Romanian wheat at $215.51

* Garant Logistics: 60,000 tonnes of Russian wheat at $217.00

Traders said the following were the best cost-and-freight (C&F) offers in dollars per tonne:

* Cofco: 60,000 tonnes of Romanian wheat at $197.49 and $11.62 freight equating to $209.11

* Aston: 60,000 tonnes of Russian wheat at $196.90 and $12.70 freight equating to $209.60

* Orsett: 60,000 tonnes of Russian wheat at $199.60 and $12.70 freight equating to $212.30

* Ameropa: 60,000 tonnes of Romanian wheat at $202.50 and $11.62 freight equating to $214.12

* GTCS: 60,000 tonnes of Russian wheat at $202.70 and $12.70 freight equating to $215.40

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