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Egypt News

UPDATE 2-French wheat offered lowest at Egypt's GASC tender

(Adds quote, detail and C&F)

CAIRO, Dec 15 (Reuters) - The lowest offer in a wheat purchase tender on Tuesday by Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC), was $269.10 per tonne for 60,000 tonnes of French wheat, traders said.

GASC is seeking an unspecified quantity of wheat for shipment Feb. 1-15.

At its last wheat tender on Dec. 1, GASC bought 170,000 tonnes of wheat, of which 110,000 tonnes was Russian and 60,000 Ukrainian.

Russia plans to impose an export tax of 25 euros ($30.4) a tonne on wheat exports between Feb. 15 and June 30, the economy minister said on Monday.

The export tax will be in addition to a grain export quota of 17.5 million tonnes over the same period.

“There is no doubt about it, the Russian government’s tax and quota is reducing Russian offers and increasing prices. There is a lot of uncertainty,” said one Europe-based trader.

Egypt, the world’s largest wheat buyer, has purchased 3.439 million tonnes of Russian grain constituting the highest share of any origin imported since the buying season began in July, Reuters calculations showed.

“The tax and quota have had a great impact. The higher GASC offers from Russia will bring Romanian and French wheat very much back into the picture,” another European trader said.

Traders said the following offers were presented at Tuesday’s tender on a free-on-board (FOB) basis in dollars per tonne:

* LDC: 60,000 tonnes of Ukrainian wheat at $269.97

* Soufflet: 60,000 tonnes of French wheat at $273.74

* GTCS: 55,000 tonnes of Russian wheat at $285.00

* CHS: 60,000 tonnes of Romanian wheat at $270.96

* Olam: 55,000 tonnes of Ukrainian wheat at $269.50

* Ameropa: 60,000 tonnes of Romanian wheat at $271.47

* Grain Export: 60,000 tonnes of Russian wheat at $285.00

* Solaris: 60,000 tonnes of Russian wheat at $287.00

* Nibulon: 60,000 tonnes of Ukrainian wheat at $273.00

* Glencore: 60,000 tonnes of French wheat at $269.10

* Glencore: 55,000 tonnes of Russian wheat at $297.86

Traders said the following were the best offers presented at the tender including cost and freight (C&F):

* CHS: 60,000 tonnes of Romanian wheat at $270.96 and $12.47 freight equating to $283.43

* Ameropa: 60,000 tonnes of Romanian wheat at $271.47 and $12.47 freight equating to $283.94

* Olam: 55,000 tonnes of Ukrainian wheat at $269.50 and $14.45 freight equating to $283.95

* LDC: 60,000 tonnes of Ukrainian wheat at $269.97 and $14.43 freight equating to $284.40

* Nibulon: 60,000 tonnes of Ukrainian wheat at $273.00 and $12.43 freight equating to $285.43

* Glencore: 60,000 tonnes of French wheat at $269.10 and $17.75 freight equating to $286.85

* Soufflet: 60,000 tonnes of French wheat at $273.74 and $17.75 freight equating to $291.49

* Grain Export: 60,000 tonnes of Russian wheat at $285.00 and $12.50 freight equating to $297.50

No purchase has yet been made but results are expected later on Tuesday.

Reporting by Nadine Awadalla and Michael Hogan; Editing by Kirsten Donovan and Jane Merriman

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