December 13, 2004

Egypt GASC Says Tenders For 30,000-60,000 MT Wheat

Egypt's main wheat buyer, the General Authority for Supply Commodities, or GASC, said Friday that it's tendering for offers to buy 30,000 to 60,000 metric tons of wheat basis free on board for Jan. 20-31 shipment, said Nomani Nomani, GASC's general manager.

Wheat offers of 50,000 to 60,000 tons are being sought for U.S. hard red winter, U.S. soft red winter, French, Australian, Argentine and Canadian wheat as well as 30,000 to 60,000 tons of Russian and Syrian origin. GASC did not include U.S. soft white wheat in Friday's tender.

Offers are due by 1000 GMT Saturday.

Earlier this week, traders speculated that GASC would issue a wheat tender due to attractive international wheat prices. Still, ideas were that GASC was likely to buy a small number of cargoes, perhaps as little as one, due to large existing stocks and the start of the wheat crop year.

Traders said GASC had so far imported 3.28 million tons of wheat in the marketing year that began in July, compared to the total of 5.44 million tons it bought in the last marketing year.