On January 14, 2017 Egypt bought 235,000 tons of wheat from Russia and Romania

16 Jan, 2017
On January 14, 2017 Egypt bought 235,000 tons of wheat from Russia and Romania
On January 14, 2017 (Saturday), Egypt's National Company GASC started an auction for wheat purchase, at which 235,000 tons of wheat were bought from Russia and Romania.

Seven offers were made, six of which were Russian and one Romanian at levels 198.98 – 206.33 USD/ton C&F. Contracts were signed for the following amounts and at the following prices:

- 60,000 tons of Romanian wheat from Cerealcom at 189.65 USD/ton + 10.70 USD/ton freight, total 200,35 USD/ton C&F.

- 60,000 tons of Russian wheat from Grainbow at 187.50 USD/ton + 11.39 USD/ton freight, total 198.89 USD/ton C&F.

- 60,000 tons of Russian wheat from Olam at 187.95 USD/ton + 11.39 USD/ton freight, total 199.34 USD/ton C&F.

- 60,000 tons of Russian wheat from Glencore at 188.34 USD/ton + 12.30 USD/ton freight, total 200.64 USD/ton C&F.

This was the first auction for the season organised in Egypt. The previous one was organised on December 29, 2016 when 235,000 tons of mainly Russian wheat were bought and there was an offer from Ukraine.