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Egypt’s GASC buys 60,000 tons of Russian wheat

By: | at 08:00 PM | International Trade  

Egypt’s main government wheat buyer said on he had bought 60,000 tons of Russian wheat for June 1-15 shipment, on a free on board basis.

Nomani Nomani, vice chairman of the General Authority for Supply Commodities (GASC), gave the following breakdown of the purchase:

  • 60,000 tons of Russian wheat from Alex Grain at $167.70/ton

The following freight costs were agreed in the tender:

  • Russian wheat: $26.30 per ton

This meant the purchase had a final price of $194.00 a ton c&f.

Egypt is the world’s largest wheat importer. Since the start of the current financial year in July 2009, GASC has purchased 4.93 million tonnes of U.S., French, Russian, German, Kazakh and Canadian wheat at international tenders. (Reuters)