Egypt’s state food procurement agency GASC contracted 300 thousand tons of Russian wheat at a price of $250 per ton FOB plus $ 14 freight from the port of Kavkaz during the international tender on August 2. It is noted that two shipments of 60 thousand tons of grain were sold by traders Grain Flower and Aston, another shipment – Olam. Delivery of domestic wheat should take place from September 1 to September 10 this year.
Note that the only non-Russian wheat shipment turned out to be Romanian – from Viterra at $249 per ton plus $13.05 freight cost.
“In this case, the price was probably lowered during negotiations. Initially, wheat from Romania was offered at a minimum of $252 per ton,” the Kommersant newspaper reported.
A total of 30 bids were submitted for the tender, 20 of which were for Russian wheat, the prices for which were set by all traders at $250 per ton. This is the first GASC tender after the stoppage of the “grain deal”.
Recall that Egypt is the world’s largest importer of wheat. According to the Union of Grain Exporters, last season the region increased grain purchases from Russia by 61.1% to 8.1 million tons. This is the second result after Türkiye, which imported 9.2 million tons (+33.8% compared to the previous agricultural year).