Egypt’s GASC receives French, Russian wheat offers in tender
CAIRO - The lowest offer in Egyptian state buyer GASC’s wheat purchase tender which closed on Wednesday was $200.69 per tone free on board (FOB) for French wheat, traders said.
The offer was made for 60,000 tonnes, they said.
No purchase has yet been made and results are expected later on Wednesday, traders said.
Traders said the following offers were submitted to GASC in the first round of the tender (in dollars a tonne FOB):
*Glencore: 60,000 tonnes of French wheat at $200.69
*Louis Dreyfus: 60,000 tonnes of French wheat at $200.84
*Soufflet: 60,000 tonnes of French wheat at $200.94
*Invivo: 60,000 tonnes of French wheat at $202.45
*Cargill: 60,000 tonnes of French wheat at $202.60
*Bunge: 60,000 tonnes of French wheat at $202.87
*Lecureur: 60,000 tonnes of French wheat at $203.90
*BTG: 55,000 tonnes of Russian wheat at $204
*Union Co.: 60,000 tonnes of Russian wheat at $204.03
*ADM: 60,000 tonnes of Russian wheat at $205.90
Traders said the shortlist of best offers on a cost-and-freight (C&F) basis was as follows:
*Union Co.: 60,000 tonnes of Russian wheat at $204.03 a tonne FOB and $7.07 a tonne freight equating to $211.10 a tonne C&F
*Glencore: 60,000 tonnes of French wheat at $200.69 a tonne FOB and $10.46 a tonne freight equating to $211.15 a tonne C&F
*Louis Dreyfus: 60,000 tonnes of French wheat at $200.84 a tonne FOB and $10.91 a tonne freight equating to $211.75 a tonne C&F
*BTG: 55,000 tonnes of Russian wheat at $204 a tonne FOB and $7.88 a tonne freight equating to $211.88 a tonne C&F
*Soufflet: 60,000 tonnes of French wheat at $200.94 a tonne FOB and $10.96 a tonne freight equating to $211.90 a tonne C&F
The following is a list of freight (ocean shipping) offers made to transport the wheat purchased in the tender, in dollars per tonne:
Russia
*Union Co. :$7.07 (Novo)
*National Navigation: $7.99 (Novo)
*National Navigation: $8.99 (Tuapse)
*United Marine Egypt: $7.88 (Tuapse)
France
*Mina: $10.91
*United Marine Egypt: $10.46
*Copa: $10.96
*National Navigation: $11.50
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