Egypt's GASC books 60k mt Romanian wheat at $270.25/mt CFR

Egypt's General Authority for Supply Commodities (GASC) has closed a tender issued earlier Tuesday and awarded it to Agro Chirnogi, one of Romania’s leading wheat exporters, an official note said Tuesday.

GASC paid $256/mt FOB Constanta and $270.25/mt CFR Egypt, given $14.25/mt freight rate, for 60,000 mt of Romanian-origin wheat.

The wheat was sold for October 5-20 loading, with payment to be made at sight and sponsored by the Islamic Trade Finance Corporation (ITFC).

According to lineups seen by Agricensus, GASC received a total of 32 offers from various global suppliers in the range of $265-269.80/mt FOB for Romanian and Bulgarian wheat, $266.82-296.60/mt FOB for French grains and $270-280/mt FOB Russian ports.

In its latest tender that closed August 8, GASC booked 235,000 mt of Russian wheat paying on average $262.76/mt FOB and $278.33/mt CFR.

For more information on Egypt's recent buying, please see our Tender Dashboard.