March 16, 2012

Egypt's GASC purchases 120,000 tonnes Canadian, US wheat

For May 1-10 shipment on a free on board basis, Egypt has bought 120,000 tonnes of Canadian and US wheat, the main government wheat buyer said on Thursday (Mar 15).

Nomani Nomani, vice chairman of the General Authority for Supply Commodities (GASC), said they bought 60,000 tonnes of Canadian wheat from Louis Dreyfus at US$263.50 per tonne with freight costs of US$24 per tonne and 60,000 tonnes of US soft red winter wheat from Venus at US$261.50 per tonne with freight costs of US$26.11 per tonne.

Since the start of the 2011/12 fiscal year on July 1, GASC's purchases have been dominated by Black Sea origin wheat.

GASC has purchased 3.24 million tonnes of Russian wheat, 180,000 tonnes of Romanian wheat, 360,000 tonnes of Ukrainian wheat, 60,000 tonnes of Russian, Ukraine or Kazakh wheat at the seller's option and 60,000 tonnes of Russian or Kazakh wheat at the seller's option since the beginning of July.

It also bought 300,000 tonnes of French wheat and 240,000 tonnes of Argentine wheat as well as 355,000 tonnes of US soft red winter wheat plus today's purchase of 60,000 tonnes of Canadian wheat.

In the fiscal year that ended on June 30, 2011, GASC purchased some 5.58 million tonnes of French, US, Canadian, Australian and Argentine wheat.