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UPDATE 2-Egypt's GASC receives offers in wheat tender

Published 23/08/2016, 10:47 pm
UPDATE 2-Egypt's GASC receives offers in wheat tender

(Adds cost and freight offers)

ABU DHABI/CAIRO, Aug 23 (Reuters) - Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), received 11 offers for its wheat tender on Tuesday, Cairo-based traders said.

The lowest offer presented was at $171.10 a tonne, free-on-board (FOB), for 55,000 tonnes of Ukraine wheat, traders said.

Results for the tender, seeking shipment from 21-30 September, are due later on Tuesday.

Traders said the following offers were made in dollars per tonne FOB:

*Venus: 55,000 tonnes of Ukraine wheat at $171.10

*Louis Dreyfus: 60,000 tonnes of Ukraine wheat at $177.24

*Daewoo: 60,000 tonnes of Russian wheat at $179.61

*Union Co.: 60,000 tonnes of Russian wheat at $179.70

*Nidera: 55,000 tonnes of Russian wheat at $179.90

*ADM: 60,000 tonnes of Russian wheat at $179.95

*ADM: 60,000 tonnes of Romanian wheat at $180.47

*Alegrow: 60,000 tonnes of Russian wheat at $180.80

*Union Co.: 60,000 tonnes of Russian wheat at $180.80

*Ameropa: 60,000 tonnes of Romanian wheat at $182.22

*Aston: 60,000 tonnes of Russian wheat at $184.94

Traders also said they estimated the lowest cost and freight prices (C&F) as follows:

*Venus: 55,000 tonnes of Ukraine wheat at $171.10 FOB and $11.07 freight equating to $182.17 C&F

*Nidera: 55,000 tonnes of Russian wheat at $179.90 FOB and $6.60 freight equating to $186.50 C&F

*Louis Dreyfus: 60,000 tonnes of Ukraine wheat at $177.24 FOB and $9.39 freight equating to $186.63 C&F

*Daewoo: 60,000 tonnes of Russian wheat at $179.61 FOB and $8.19 freight equating to $187.80 C&F

*Union Co.: 60,000 tonnes of Russian wheat at $179.70 FOB and $8.19 freight equating to $187.89 C&F

*ADM: 60,000 tonnes of Romanian wheat at $180.47 FOB and $7.54 freight equating to $188.01 C&F

*ADM: 60,000 tonnes of Russian wheat at $179.95 FOB and $8.19 freight equating to $188.14 C&F

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