GASC pays 50 cents more as it books six wheat cargoes from across Europe

Egypt’s state buyer booked six cargoes of February delivery milling wheat on Tuesday, paying slightly more than it did a week ago as it secured supply from origins including France, Romania, Russia, and Ukraine.

General Authority for Supply Commodities (GASC) received a total of 16 offers for February 5-15 delivery milling wheat on Tuesday, with levels ranging from $220.86-227.40/mt FOB.

After a long back-and-forth, sellers – including ADM, Ameropa, Glencore, Nibulon, and Posco Daewoo – agreed to supply a total of 355,000 mt at an average $222.44/mt FOB and $238.19/mt CFR.

At its previous tender, which closed December 3, GASC booked 295,000 mt of Russian wheat at an average $221.90/mt FOB and $235.94/mt CFR for January 21-31 loading.

Egypt is the biggest wheat importer in the world and buys around 12.5 million mt annually, with GASC purchases around half of that volume, according to USDA data.

Full results and details of previous GASC buying can be found on the Agricensus Tender Dashboard.