July 2, 2005

Egypt to purchase 180,000 tonnes of wheat from US and Australia

Egypt, the world's second-biggest wheat importer, has agreed to buy 180,000 tonnes of US and Australian varieties of the grain from Bunge Ltd. and AWB Ltd.

Egypt will purchase a 60,000-tonne cargo of US soft red winter wheat at US$132.42 a tonne from Bunge, according to Nomani Nomani, general manager of Egypt's General Authority for Supply Commodities. The shipments, in the week that ends July 31, are on a free on board basis.

Egypt will also buy a 60,000-tonne cargo of Australian standard white wheat from AWB Ltd. at US$140.50 a tonne and a 60,000-tonne cargo of Australian hard wheat at US$145.30 a ton from AWB.

Egypt may buy a record amount of wheat in the marketing year that begins July 1, as its currency strengthens. The country's imports look set to reach 7.6 million tonnes, up from a forecast of 7.5 million tonnes in the previous marketing year.