Egypt's state-buyer, the General Authority for Supply Commodities (GASC) cancelled a tender on Friday, February 5, to buy an unspecified amount of wheat from global suppliers for Mar 2-11 shipment, citing high prices.

It had received four offers in an international wheat purchase tender despite uncertainty over tough new quality rules.

Traders said the following offers were submitted to GASC in the first round of the tender (USD/MT, FOB):

  • Soufflet: 60,000 MT of French wheat at 186.64 $/mt fob from two ports
  • Union Co.: 60,000 MT of Russian wheat at 190.41 $/mt fob Novorossiysk
  • Cargill: 60,000 MT of French wheat at 192.00 $/mt fob Dunkirk
  • Ameropa: 60,000 MT of Romanian wheat at 193.55 $/mt fob Constanta

Offers on C&F basis was as follows (USD/MT, C&F):

  • Soufflet: 60,000 MT of French wheat at 186.64 $/mt fob + 8.8 $/mt = 195.44 $/mt c&f
  • El-Wehda (Union Co): 60,000 MT of Russian wheat at 190.41 $/mt fob + 5.59 $/mt = 196 $/mt c&f
  • Cargill: 60,000 MT of French wheat at 192 $/mt fob + 8.8 $/mt = 200.8 $/mt c&f
  • Ameropa: 60,000 MT of Romanian wheat at 193.55 $/mt fob + 4.33 $/mt = 197.88 $/mt c&f

Freight(ocean shipping) offers (USD/MT):

  • Romania
    • Ameropa: $4.33 (Constanta)
    • NNC: $5.99 (Constanta)
  • Russia
    • NNC: $6.79 (Novorossiysk)
    • Union Co.: $5.59 (Novorossiysk)
  • France
    • NNC: $8.80