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CAIRO: Egypt's state grains buyer, the General Authority for Supply Commodities, said on Tuesday it had bought 400,000 metric tons of wheat in an international tender.
The purchase comprised 100,000 tons of Bulgarian wheat, 180,000 metric tonnes of Romanian wheat and 120,000 metric tons of Ukrainian wheat, GASC said. GASC negotiated lower prices for some offers, with more than $10 cuts per ton for some cargoes, traders said.
"Ukrainian wheat is very cheap, even cheaper than Russian. It is mainly sold in small shipments. If there is confidence in the ability to ship without Russian attacks, as the GASC tender showed, there is potential in the Ukrainian market to squeeze out very low prices," one German trader said.
Traders gave the following breakdown of the purchase in dollars per metric ton: Supplier QTY/ Origin Shipment At Freight C&F KMT Sight FOB Buildcom 50 BGR Aug. 1-10 $14.95 $264.95 $250.00 Cargill 50 BGR $250.00 $17.80 $267.80 Aug. 1-10 LDC 60 RO $269.65 Aug. 1-10 $251.85 $17.80 CHS 60 RO Aug. 1-10 $251.85 $17.80 $269.65 AMS 60 RO $251.85 Ameropa Aug. 1-10 $17.80 $269.65 LDC 60 UKR Aug. 11-20 $36.20 $233.45 $269.65 ADM 60 UKR $233.45 Aug. 11-20 $36.20 $269.65
(Reporting by Sarah El Safty and Michael Hogan; Editing by David Goodman and Richard Chang)