Supply Chain Council of European Union | Scceu.org
Freight

UPDATE 2-Polish wheat offered lowest at Egypt’s wheat tender

(Adds cost and freight offers, detail)

DUBAI/HAMBURG, Sept 16 (Reuters) – The lowest offer presented at Egypt’s latest state international wheat purchasing tender on Wednesday was at $228.43 a tonne for 60,000 tonnes of Polish wheat.

The offer was presented by Casillo.

Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC,) is seeking an unspecified quantity of wheat for shipment on Nov. 10-20.

GASC said it would pay for the grain using letters of credit that guarantee payment within 180 days.

Results are due later on Wednesday.

“Baltic Sea region export prices, including Poland, are starting to look cheap compared to the Black Sea,” one European trader said.

Egypt, the world’s largest wheat importer, raised its purchases of the grain by almost 40 percent year on year in the first two months of this buying season, with its supply ministry instructed to keep six months of strategic reserves in response to COVID-19.

Around 85.4% of the wheat purchased by GASC from July-August 2020 was Russian, Reuters calculations based on trade data show.

Traders gave the following breakdown of the offers presented in dollars per tonne on a free-on-board (FOB) basis:

*Glencore: 55,000 tonnes of Russian wheat at $244.10

*GTCS: 55,000 tonnes of Russian wheat at $240

*Louis Dreyfus: 60,000 tonnes of Ukraine wheat at $238.94, 55,000 tonnes of Russian wheat at $237.74

*Posco: 60,000 tonnes of Russian wheat at $234.99

*Cargill: 55,000 tonnes of Russian wheat at $239

*Casillo: 60,000 tonnes of Polish wheat at $228.43

*Gemcorp: 55,000 tonnes of Russian wheat at $237.68

*Solaris: 60,000 tonnes of Russian wheat at $235.98

*Grain Export: 60,000 tonnes of Russian wheat at $245.40

*Nibulon: 60,000 tonnes of Ukraine wheat at $245

*AST Agro: 60,000 tonnes of Russian wheat at $243

Traders also said the following were the best offers presented on a cost and freight (C&F) basis:

*Posco: 60,000 tonnes Russian wheat at $234.99 free-on-board (FOB) and $13.25 freight equating to $248.24 C&F

*Casillo: 60,000 tonnes Polish wheat at $228.43 FOB and $20.8 freight equating to $249.23 C&F

*Solaris: 60,000 tonnes Russian wheat at $235.98 FOB and $13.25 freight equating to $249.23 C&F

*Gemcorp: 55,000 tonnes Russian wheat at $237.68 FOB and $14.25 freight equating to $251.93 C&F

*Louis Dreyfus: 55,000 tonnes Russian wheat at $237.74 FOB and $14.89 freight equating to $252.63 C&F

*Cargill: 55,000 tonnes Russian wheat at $239 FOB and $14.6 freight equating to $253.6 C&F

*Louis Dreyfus: 60,000 tonnes Ukraine wheat at $238.94 FOB and $14.17 freight equating to $253.11 C&F

Reporting by Maha El Dahan and Michael Hogan, editing by Louise Heavens and David Evans

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