July 3, 2014

 

Romanian grain traders to deliver 420,000 tonnes of wheat to Egypt
 

 

Major grain traders in Romania will deliver 180,000 tonnes of wheat to Egypt during August 11-20, raising the volume of Romanian wheat from the new crop to be exported to Egypt to 420,000 tonnes.

 

The prices for the wheat sold under the latest contracts for August 11-20, including the transport to Egypt, range between US$261.97/tonne and US$263.35/tonne. The highest price was US$0.87 above the level reached in the previous June 21 auction.

 

Romania is the largest wheat source for Egypt so far in the new marketing year, followed by Russia with only 180,000 tonnes.

 

Romanian farmers are starting to harvest the new wheat crop estimated at between 7.6 and 8.3mn tonnes. The crop estimates caused a clash between farmers and traders with the former accusing the latter of overestimating the production with the visible aim of pushing down prices. The heavy rains in the last week of June deteriorated the quality of the crop, part of which can be used only as animal fodder, farmers claimed recently.