UPDATE 2-Egypt\’s GASC receives offers for wheat tender – trade – RTRS | News | Thomson Reuters Eikon 10/09/2015

UPDATE 2-Egypt’s GASC receives offers for wheat tender – trade – RTRS

09-Oct-2015 07:23

(Adds best cost and freight offers)

ABU DHABI/HAMBURG, Oct 9 (Reuters) – The lowest offer in Egyptian state buyer GASC’s wheat purchase tender that closed on Friday was $196.74 a tonne 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 Friday, traders said.

The wheat is for shipment on Nov. 11-20.

Traders said the following offers were submitted to GASC in the first round of the tender on Friday (in dollars a tonne FOB):

  • Soufflet: 60,000 tonnes French at $196.74
  • Union Co.: 60,000 tonnes Russian at $198.11
  • ADM: 60,000 tonnes Romanian at $198.69
  • Cargill: 60,000 tonnes French at $198.80
  • Cargill: 55,000 tonnes Russian at $199
  • ADM: 60,000 tonnes Russian at $199.69
  • Invivo: 60,000 tonnes French at $201
  • Lecureur: 60,000 tonnes French at $201.40
  • Bunge: 60,000 tonnes French at $203
  • Vitol: 60,000 tonnes Russian at $203
  • Glencore: 55,000 tonnes Russian at $206

 

Traders also said the shortlist of best offers on a cost and freight basis (C&F) was as follows:

  • Union Co.: 60,000 tonnes of Russian wheat at $198.11 a tonne FOB and $7.89 a tonne freight equating to $206 a tonne C&F
  • ADM: 60,000 tonnes Romanian wheat at $198.69 a tonne FOB and $9.39 a tonne freight equating to $208.08 a tonne C&F
  • ADM: 60,000 tonnes of Russian wheat at $199.69 a tonne FOB and $9.24 a tonne freight equating to $208.93 a tonne C&F
  • Soufflet: 60,000 tonnes French wheat at $196.74 a tonne FOB and $12.22 a tonne freight equating to $208.96 a tonne C&F

 

(Reporting By Maha El Dahan and Michael Hogan; Additional reporting by Valerie Parent in Paris; Editing by Pravin Char) ((Maha.Dahan@thomsonreuters.com; + 9712 4082101; Reuters Messaging: maha.dahan.thomsonreuters.com@reuters.net))

 

Keywords: EGYPT WHEAT/TENDER (UPDATE 2)

 

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