By: Mohanad Osama
Egypt would import 180 thousand tons of Romanian and Russian wheat to make subsidized bread in an international tender, state-run news website Egynews reported Thursday.
Mohamed Abu Shady, Minister of Supply and Internal Trade at Prime Minister Hazem al-Beblawy’s cabinet, said the ministry would import wheat from several countries including the US, Russia, Romania, Canada, France, and Argentina.
Egyptian authorities has received earlier offers of Supplying commodities, according to two traders involved in the sale who asked not to be identified because they aren’t authorized to speak to the media.
All offers are for 60,000 tons, unless otherwise indicated.
As of Ukraine offered Venus for $242 Noble for 55,000 tons at $257.40, while Romania offered Toepfer for $251 Ameropa for $253.85.
Russia Venus for $252.99 Venus for $254.99 Toepfer for $255.85 Olam for $258 Cargill for $258.50 Nidera for $258.23 Glencore for $259 Olam for $260.
Russia tightened its grip on wheat orders by officials in Egypt, the top importing country, as they raised purchases so far in 2013-14 close to 2m tonnes – although French grain came closer into contention.
Egypt’s Gasc grain authority, at its third wheat tender in eight days, purchased 180,000 tonnes of the grain at an average price of $251.54 a tonne, excluding shipping.
The $47m order took to 1.91m tonnes Gasc’s purchases so far in 2013-14, which started in July, all of which have been purchased from the Black Sea exporters Romania, Russia and Ukraine.
However, the latest deal extended a recent trend of Russia, traditionally the main supplier of wheat to Egypt, making up for a slow start by taking 120,000 tonnes.
whereas France Toepfer for $255.75 Cargill for $258.50 Bunge for $259 Soufflet for $259.74.
Nonetheless, French wheat, which Gasc typically calls on later in the season, as Black Sea supplies run low pushing prices higher, came closer into contention at the latest tender, with the cheapest offer at $258 a tonne, some $6 a tonne out of the running, excluding shipping fees.
At Gasc’s ,last tender, at the weekend French wheat was $5 a tonne more expensive, and at a premium of $10 a tonne or more to the winning offers.
Paris wheat prices have been weighed down, besides by softening Chicago futures, by a domestic harvest which has proven stronger on quality and quantity than initially thought.