Egypt GASC buys 120,000 MT Romanian, Russian wheat May 6, 2015
The Egypt's state grain buyer, the General Authority for Supply Commodities (GASC) on Tuesday, May 5, bought 60,000 MT of Russian and 60,000 MT of Romanian wheat for June 16-25 delivery:
- 60 TMT of Romanian wheat from Cargill at 207.9 $/t c&f (199.5 $/t fob + 8.4 $/t freight)
- 60 TMT of Russian wheat from Vitol at 203.62 $/t c&f (194.22 $/t fob + 9.4 $/t freight)
GASC has bought 4.575 MMT (2.04 MMT from France, 1.14 MMT from Romania, 885 KMT from Russia, 345 KMT from US and 165 KMT from Ukraine) of wheat on the international market since July 1, the start of the 2014/15.
Egypt purchased 5.46 MMT of wheat from abroad in the 2013/14 fiscal year in addition to 3.7 MMT of local wheat.
Egypt started its local wheat procurement season from mid-April, up to 1.6 MMT of Egyptian wheat have been purchased so far. Egypt is aiming to buy a total of 3.7 MMT this season.
Egypt's stock of wheat for its subsidised bread programme is enough to last until mid-July