Egypt's stock of wheat for its subsidised bread programme will last until the first week of May, after it bought 180,000 tons last week.

Supplies Minister Khaled Hanafi said in a statement he expected new silos to come into use in March, in time to receive the local harvest and secure strategic reserves until October.

The government hopes to procure 3.6 to 3.7 million tons of local wheat in the harvest season that runs from April to June.

In its last tender on Thursday, January 8, GASC bought 180,000 tons of French wheat for shipment February 8-18:

  • 60 KMT of French wheat from Lecureur at 264.19 $/t c&f (248.94 $/t fob plus $12.5 freight+ 2.75 $/t for shipment from two ports)
  • 60 KMT of French wheat from Glencore at 264.75 $/t c&f (250.25 $/t fob plus $14.5 freight)
  • 60 KMT of French wheat from Glencore at 264.75 $/t c&f (250.25 $/t fob plus $14.5 freight)

GASC has bought 3.085 MMT (1.32 MMT from France, 780 KMT from Romania, 765 KMT from Russia, 55 KMT from USA 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.

OFFERS ($/t, fob)

  • Lecureur: 60 KMT of French wheat at $248.94
  • Nidera: 60 KMT of Argentine wheat at $252, 60 KMT of French wheat at $254.95, 60 KMT of Romanian wheat at $261.50
  • Glencore: 60 KMT of French wheat at $252.87
  • Granit: 60 KMT of French wheat at $254.95
  • Soufflet: 60 KMT of French wheat at $256.44
  • Cargill: 60 KMT of French wheat at $257
  • Bunge: 60 KMT of French wheat at $259.87
  • Nidera: 60 KMT of Romanian wheat at $261.50
  • Ameropa: 60 KMT of Romanian wheat at $264

FREIGHT

Romania

  • National Navigation: $9.25
  • Ameropa: $7.88

France

  • National Navigation: $14.50
  • United: $12.50

Argentina

  • Nidera: $18
  • Mina Shipping: $25.60