GASC steps up wheat imports amid decreasing global prices
The Egyptian state grain board GASC acquired a total of 444,000 t of wheat directly from grain trading houses without announcing and holding a tender. According to traders, up to 214,000 t of wheat are sourced from Russia, 170,000 t from France and 60,000 t from Romania. The contract price amounted to $416/t for wheat of all origins. The list of trading houses from which the purchases were made consists of GTCS, LDC, Agro and Vittera. Shipments will be made within Sep and Oct 2022.
Taking advantage of declining wheat prices in the globe, GASC earlier purchased a total of 815,000 t of wheat within the framework of the tender. Up to 350,000 t of the commodity were sourced from France, 240,000 t from Romania, 175,000 t from Russia and 50,000 t from Bulgaria. The average purchase price was about $434.1/t C&F. Note that the previous tender held on June 2 finished with a purchase of 465,000 t of wheat at $480/t C&F.