August 25, 2004

Egypt GASC Tenders For 50,000 - 60,000 MT Wheat FOB

Egypt's main wheat buyer, the General Authority for Supply Commodities, or GASC, said Tuesday that it is tendering for 50,000 to 60,000 metric tons of U.S., French and Australian wheat basis free on board for Oct. 1-10 shipment.

GASC is seeking offers by 0900 GMT Wednesday with results expected to be released before 1400 GMT, GASC's general manager, Nomani Nomani, stated.

In its previous tender completed Aug. 13, GASC, bought 60,000 tons of U.S. soft white wheat at $144.63/ton FOB for Sept. 20-31 shipment.

Egypt is forecast to import seven 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.