The Egypt’s state grain buyer, the General Authority for Supply Commodities (GASC) bought 120 KMT of French wheat and 55 KMT of Russian wheat on Friday, October 10.

GASC bought wheat for shipment November 11-20: 

  • 60 KMT of French wheat from Glencore at 243.40 $/t c&f (229.40 $/t fob + 14 $/t freight)
  • 60 KMT of French wheat from Soufflet  at 245.65 $/t c&f (226.44 $/t fob + 16.96 $/t freight + 2.25 $/t for shipment from two ports)
  • 55 KMT of Russian wheat from Glencore at 249.30 $/t c&f (239.30 $/t fob + 10 $/t freight)

After the last purchase, the strategic reserve of wheat is enough to last until the first week of next March.

GASC has bought 1.715 MMT (600 KMT from Romania, 525 KMT from Russia, 480 KMT from France, 55 KMT from USA and 55 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 will buy wheat from local farmers in next year's harvest at the same price it paid this year (420 EGP/ardeb (150 kg)).

OFFERS ($/t, fob)

  • Bunge: 60 KMT Russian at $244.70
  • Cargill: 60 KMT Russian at $243.50
  • Olam: 60 KMT Russian at $244
  • Nidera: 60 KMT Russian at $243.99 and/or 60 KMT Romanian at $243.85
  • Soufflet: 60 KMT French at $227.44
  • Noble: 60 KMT Russian at $243.50
  • Invivo: 60 KMT French at $243
  • Glencore: 60 KMT French at $229.40 and/or 55 KMT Russian at $240.30

FREIGHT

France

  • National Navigation: $16.96
  • Mina Dubai: $18.68
  • Glencore: $14 for own cargo

Russia

  • National Navigation: $12.90, $13.10
  • Mina Dubai: $11.94
  • Copa Shipping: $12.20
  • Glencore: $10 for own cargo

Romanian:

  • Mina Dubai: $11.65
  • Copa Shipping: $11.95