The Egyptian GASC (state food procurement company) tender scheduled for July 19, for which wheat from Russia and the European Union was not allowed, did not take place. It is reported by “Interfax”.
Now GASC is waiting for proposals from all suppliers, especially traditional ones, and experts of the grain market report in their telegram channels.
According to tender information, American wheat, in particular, was presented on Tuesday. Offers of Russian and French wheat were rejected. Grain deliveries based on C&F were scheduled for Sept. 16-30, Oct. 1-15, Oct. 16-31 and Nov. 1-15. Prices ranged from $443 to $485 per ton.
“The experiment with GASC’s alternative suppliers has failed. Without market competition, the supply of American grain significantly exceeded the current price level in the MENA region, which has developed in acute competition between the Black Sea and European suppliers, “said Eduard Zernin, chairman of the board of the Union of Grain Exporters.
He states, “Egypt is forced to enter the second round of collection proposals, now with the participation of traditional players.” “I am sure we will see more market prices on Thursday,” he said.