August 11, 2004

Egypt GASC Buys 120,000 MT US, French Wheat

Egypt's main wheat buyer, the General Authority for Supply Commodities, or GASC, said Tuesday that it bought 120,000 metric tons of U.S., and French wheat basis free on board for September 11-20 shipment at its tender.
 
Of the total, GASC bought 60,000 tons of U.S. soft red winter wheat at $134.09/ton FOB from Louis Dreyfus and 60,000 tons of French milling wheat from Lecureur at $138.24/ton FOB, Nomani Nomani, GASC's general manager, revealed.
 
Egypt is forecast to import 7 million tons of wheat during the 2004-05 marketing year, according to the latest report from the International Grains Council. GASC purchases account for the bulk of Egypt's imports.