Egypt’s GASC receives offers in wheat tender -trade
ABU DHABI - The lowest offer in Egyptian state buyer GASC’s wheat purchase tender that closed on Wednesday was $195.54 a tonne free on board (FOB) for French wheat, traders said.
The offer was made for 60,000 tonnes, they said, adding that no purchase has yet been made and results are expected later on Wednesday.
Traders said the following offers were submitted to GASC in the first round of the tender (in dollars a tonne FOB):
*Soufflet: 60,000 tonnes of French wheat at $195.54
*Invivo: 60,000 tonnes of French wheat at $195.91
*Glencore: 60,000 tonnes of French wheat at $197.37
*Bunge: 60,000 tonnes French wheat at $197.69
*Louis Dreyfus: 60,000 tonnes of French wheat at $197.84
*Alegrow: 60,000 tonnes of Russian wheat at $198.95
*Lecureur: 60,000 tonnes of French wheat at $199.75
*Bunge: 55,000 tonnes of Russian wheat at $200.17
*Ameropa: 60,000 tonnes of Romanian wheat at $200.88
*Cargill: 60,000 tonnes of French wheat at $201
*Union Co.: 60,000 tonnes of Russian wheat at $201.27
*BTG: 55,000 tonnes of Russian wheat at $201.90
*Aston: 60,000 tonnes of Russian wheat at $201.98
*Nidera: 60,000 tonnes of Romanian wheat at $201.99
*ADM:60,000 tonnes of Russian wheat at $202.90
*Nidera: 55,000 tonnes of Russian wheat at $203.49
*Glencore: 55,000 tonnes of Russian wheat at $203.60
Traders said the shortlist of best offers on a cost-and-freight (C&F) basis was as follows:
*Soufflet: 60,000 tonnes of French wheat at $195.54 a tonne FOB and $10.20 a tonne freight equating to $205.74 a tonne C&F
*Invivo: 60,000 tonnes of French wheat at $195.91 a tonne FOB and $10.20 a tonne freight equating to $206.11 a tonne C&F
*Alegrow: 60,000 tonnes of Russian wheat at $198.95 a tonne FOB and $7.35 a tonne freight equating to $206.30 a tonne C&F
*Ameropa: 60,000 tonnes of Romanian wheat at $200.88 a tonne FOB and $6 a tonne freight equating to $206.88 a tonne C&F
*Union Co.: 60,000 tonnes of Russian wheat at $201.27 a tonne FOB and $6.23 a tonne freight equating to $207.50 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:
France
*National Navigation: $10.20
*United Marine: $9.72
*Mina Egypt: $9.93
Russia
*National Navigation: $7.35 for 60,000 tonne cargo and $8.38 for 55,000 tonne cargo
*United Marine: $7.26 for 60,000 tonne cargo and $7.76 for 55,000 tonne cargo
*Union Co. :$6.23 for own cargo
Romania
*National Navigation: $6.99
*Ameropa: $6
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