Egypt purchased 470 thou. t of Black Sea wheat, price set higher from previous tender

On July 28, the Egyptian national buyer GASC(General Authority for Supply Commodities) purchased 470,000 t of wheat, by far the largest volume contracted for the 2020/21 MY(July-June), the Agritel consultancy reports.

"However, yesterday's prices are up compared to the results of the previous week's call for tenders. In spite of everything, Egypt bought more volume than in the last tender with 470,000 t purchased, with 350,000 t of Russian origin and 120,000 t from Ukraine. The FOB prices were above 215 $/t," the message reads.

As reported, the average price was 228.5 $/t, which is $2.5 higher than in the previous tender. This price also marks a new high for Egypt since the launch of the season, Agritel notes.

Mena Commodities trading company informed in Twitter that Egypt bought grain from the following companies:

  • NIBULON: 60 thou. t of Ukrainian wheat at 215.1 $/t and $12.95, 228.05 $/t C&F
  • Louis Dreyfus Company Ukraine: 60 thou. t of Ukrainian wheat at 215.1 $/t and $13.9, 229 $/t C&F
  • Solaris: 120 thou. t of Russian wheat at 215.1 $/t and $12.95, 228.05 $/t C&F and 55 thou. t at 215.12 $/t and $13.75, 228.87 $/t C&F
  • Posco: 60 thou. t of Russian wheat at 215.1 $/t and $12.95, 228.05 $/t C&F
  • GTCS: 55 thou. t of Russian wheat at 217.5 $/t and $11.37, 228.87 $/t C&F
  • Grain Export: 60 thou. t of Russian wheat at 215.1 $/t and $13.95, 229.05 $/t C&F

Previously reported that GASC bought 115 thou. t of Ukrainian wheat during a tender on July 21.

As of July 24, wheat export shipment from Ukraine made up 412 thou. t, 114 thou. t less y-o-y.

Wheat production in Ukraine and worldwide (click for full resolution)

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