December 26, 2003

Egypt Buys 180,000 MT US, Australian Wheat

The General Authority for Supply Commodities (GASC), Egypt's main-state wheat buyer, announced the purchase of 180,000 metric tons of U.S. and Australian.

GASC bought 120,000 tons of Australian soft wheat from the Australian wheat board for $147.10/ton free on board, and 60,000 tons of U.S. soft white wheat from Columbia Grains for $146.69/ton FOB, Hifny said. The shipment date was Jan. 21-31.

GASC announced the tender late Tuesday, and said it was seeking 50,000- 60,000 tons of optional U.S., Canadian, French and/or Australian wheat.

GASC last bought wheat Tuesday, buying 55,000 tons of U.S. hard red winter wheat at $168.08/ton FOB for Jan. 11-20 shipment.

Egypt is forecast to import 6.5 million tons of wheat during the 2003-04 marketing year, according to the latest report from the International Grains Council. GASC purchases account for the bulk of Egypt's imports.