🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

UPDATE 2-Egypt's GASC gets offers from nine firms in wheat tender - trade

Published 02/08/2016, 11:03 pm
© Reuters.  UPDATE 2-Egypt's GASC gets offers from nine firms in wheat tender - trade

(Adds details of FOB and C&F offers)

PARIS, Aug 2 (Reuters) - Egypt's state grain agency, the General Authority for Supply Commodities (GASC), has received offers from nine trading firms in a wheat import tender being held on Tuesday, traders said.

The lowest offer was at $167.60 a tonne, free-on-board, for 55,000 tonnes of Ukrainian wheat and was presented by trading firm Venus, they said.

But including cost and freight (C&F), traders estimated the lowest offer was for 60,000 tonnes of Russian wheat at $177.19 a tonne.

Romanian wheat was also offered in a tender again dominated by Black Sea origins, with French and U.S. wheat not offered, they said.

The results of the tender, which is seeking wheat for Sept. 11-20 shipment, are due later on Tuesday.

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

*Venus: 55,000 tonnes of Ukrainian wheat at $167.60

*Midgulf: 60,00 tonnes of Russian wheat at $168.95

*Union Co.: 60,000 tonnes of Russian wheat at $168.96

*Union Co.: 60,000 tonnes of Russian wheat at $169.97

*ADM: 60,00 tonnes of Russian wheat at $171.85

*Daewoo: 60,000 tonnes of Russian wheat at $171.85

*Alegrow: 60,000 tonnes of Russian wheat at $172.45

*ADM: 60,000 tonnes of Romanian wheat at $174.50

*Ameropa: 60,000 tonnes of Romanian wheat $174.55

*Nidera: 55,000 tonnes of Russian wheat at $175.50

*Olam: 60,000 tonnes of Russian wheat at $176.80

*Nidera: 60,000 tonnes of Romanian wheat at $177.90

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

*Midgulf: 60,00 tonnes of Russian wheat at $168.95 FOB and $8.24 freight, equating to $177.19 C&F

*Union Co.: 60,000 tonnes of Russian wheat at $168.96 and $8.24 freight, equating to $177.20 C&F

*Union Co.: 60,000 tonnes of Russian wheat at $169.97 and $8.24 freight, equating to $178.21 C&F

*Venus: 55,000 tonnes of Ukrainian wheat at $167.60 and $11.37 freight, equating ot $178.97 C&F.

*ADM: 60,00 tonnes of Russian wheat at $171.85 and $8.24 freight, equating to $180.09 C&F

*Daewoo: 60,000 tonnes of Russian wheat at $171.85 and $8.24 freight, equating to $180.09 C&F

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.