CAIRO: Russian wheat was the cheapest on offer in an Egyptian state tender on Thursday at $293 per tonne with cost and freight included (C&F), traders said.

The cheapest free on board offer was $272 per tonne for 60,000 tonnes of Ukrainian wheat, presented by Viterra.

Three Russian offers of $293 C&F were presented by Grain Flower and Aston Agro Industrial SA.

Shipping costs vary, but the Russian wheat offers were still likely to be the cheapest, several traders said.

Egypt’s General Authority for Supply Commodities (GASC) held the international tender for wheat for shipment from May 10-20 and/or May 21-31, with an offers deadline of April 6.

GASC added that offers should be presented on a free on board basis, with freight offered in a separate tender.

Payment will be made at sight using funding from the International Islamic Trade Finance Corporation.

According to traders, GASC said that if a cargo is shipped after the stated shipping period, the supplier will bear war risk insurance for the period in excess of the stated shipment period until the ship’s departure from Ukrainian ports.