November 4, 2004

Egypt GASC Seeks 30,000 - 60,000 MT Wheat

Egypt's main wheat buyer, the General Authority for Supply Commodities, or GASC, is tendering for offers to buy 30,000 to 60,000 metric tons of wheat basis free on board for Dec. 16-31 shipment, traders said Wednesday.

Wheat offers of 50,000 to 60,000 tons are being sought from US, French, Australian, Argentine and Canadian origins as well as 30,000 to 60,000 tons of Russian and Syrian origin.

GASC is seeking offers by 0900 GMT Thursday with results expected to be released before 1400 GMT, the traders indicated.

In its previous spot tender concluded Oct. 21, GASC purchased 415,000 tons of wheat for November-December shipment, which included 355,000 tons of Argentine wheat and 60,000 tons of US soft white 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.