Egypt bought 420 thou. t of wheat, bulk of Ukraine origins
Egypt's national buyer GASC bought 420 thou. t of wheat in the latest tender, Nasdaq reports with reference to Reuters.
GASC made two purchases of wheat, the first one is for March 5-15 loading period, the second is for March 16-26.
Within March 5-15, Egypt will be supplied with 60 thou. t of Ukrainian wheat, 60 thou. t of Russian wheat, and 60 thou. t of Romanian.
Learn more: TOP 14 Wheat Exporters From Ukraine in 10M 2021
120 thou. t of Ukrainian wheat, 60 thou. t of Russian wheat, 60 thou. t of Romanian will be imported during March 16-26.
Wheat from Ukraine will be supplied by:
- NIBULON: USD 326 a ton FOB, USD 20.89 of freight, USD 346.89 a ton C&F
- Inerco Trade: USD 328.77 a ton FOB, USD 21.33 of freight, USD 350 a ton C&F
Wheat export from Ukraine since the start of 2021/22 has comprised 16.7 mln t, 30% above the previous season.
The USDA in its January report left unaltered its projections for wheat production and export from Ukraine in 2021/22.
As a reminder, wheat export from Ukraine in 2021/22 was limited to 25.3 mln t. The Memorandum of Understanding was signed by the Agrarian Ministry and grain market participants. The Government also considers milling wheat export from the country. The decision was reported to be taken in January, although it has not happened yet.