September 24, 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, is tendering for 50,000 to 60,000 metric tons of U.S., French, Australian, Argentine, Canadian, Russian and Syrian wheat basis free on board for Oct. 21-31 and Nov. 1-10 shipment, participating traders said Thursday.

GASC is seeking offers by 0900 GMT Friday with results expected to be released before 1400 GMT, they said.

Last Friday, GASC bought a total of 295,000 tons wheat for Oct. 15-31 shipment, which included 115,000 tons from the U.S., 120,000 from France and 60,000 tons of Argentine wheat.

Egypt is forecast to import seven million tons of wheat during the 2004- 2005 marketing year, according to the latest report from the International Grains Council.

GASC purchases account for the bulk of Egypt's imports.