Egypt to buy 180,000 tonnes US wheat

28 Mar, 2008

Egypt's main government wheat buyer said on Thursday it had bought 180,000 tonnes of US soft red winter wheat, most of it for shipment between May 11-31 on an FOB basis.
SAID EL-HEFNY, VICE CHAIRMAN OF THE GENERAL AUTHORITY FOR SUPPLY COMMODITIES (GASC), GAVE THE FOLLOWING BREAKDOWN OF THE PURCHASES:
-- Two cargoes of 60,000 tonnes each from Bunge at $385.87 a tonne for shipment May 11-31, FOB.
-- 60,000 tonnes from Alex Grain at 2,550 Egyptian pounds ($466.99) a tonne for delivery June 1-10, landed cost.
Egypt is one of the world's biggest wheat importers, usually buying more than 6 million tonnes a year. European traders said that the cheapest offer presented to Egypt was for 60,000 tonnes of US soft red winter wheat at $385 per tonne, FOB. Alternative offers were made at $389 and $391 per tonne.
Offers were also made by Kazakhstan, at a price of $465 per tonne and by Britain at $445 per tonne. Egypt also received offers for US hard wheat at $431 and $435 per tonne, the traders said.

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