February 19, 2004

Egypt Buys 300,000 MT Australian Wheat

Egypt's main-state wheat buyer, the General Authority for Supply Commodities, or GASC, said Wednesday it bought a total of 300,000 metric tons of Australian wheat at its tender for March 16-31 shipment on a free on board basis.
 
Of the total, GASC bought three 60,000 ton cargoes of Australian soft white wheat at $151.60/ton FOB and two 60,000 ton cargoes of Australian hard wheat at $161.50/ton, Nomani Nomani, GASC's general manager, said.
 
GASC last imported wheat on Feb. 7, buying a total of 235,000 metric tons of Australian and U.S. wheat at the tender for March 5-15 shipment on a free on board basis.
 
Egypt is forecast to import 6.5 million tons of wheat during the 2003-04 marketing year, according to the latest report from the International Grains Council. GASC purchases account for the bulk of Egypt's imports.