Egypt purchased 120 thousand tons of Ukrainian wheat at a tender

Egypt purchased 120 thou. t of Ukrainian wheat at a tender at a CIF price of USD 232.35 per t.

This was reported by the press service of Agritel.

“Wheat prices dropped at Euronext as a result of the GASC tender, which chose only the Black Sea commodities. 465,000 t of wheat were purchased,” the report informs.

Egypt also purchased 345 thou t of Russian wheat at a CIF price ranging from USD 231.98 per t to USD 232.34 per t.

“The results of the latest Egyptian tender won by the Ukrainian and Russian traders somewhat leveled the optimism of the French dealers, who won two previous tenders. Due to FOB, their wheat is now more expensive than that of the Black Sea competitors,” noted the Grain Trade analysts.

The record 2019 wheat crop and its high quality allowed Ukraine not only to significantly increase export shipments from the beginning of the 2019/20 season but also compete with Russia in the Black Sea region for the key markets for Russian grain in Egypt and Turkey.