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Egypt buys US wheat, snubs French
CAIRO ,Egypt's main official wheat buyer said on Tuesday it had bought a single 60,000-tonne cargo of US soft red wheat for September 21-30 shipment.
Mahmoud Abdel-Hamid, vice chairman of the General Authority for Supply Commodities (GASC), said he had bought the wheat from Louis Dreyfus at a price of $149.22 per tonne, FOB from the US Gulf/East Coast.
"The US wheat had the best price," Abdel-Hamid told Reuters, saying other bids were around the $160/T mark.
GASC said on Monday it was seeking offers to purchase 60,000 tonnes of US North Pacific soft white wheat, US soft red winter wheat, French milling wheat, Australian standard white wheat or Syrian soft wheat for September 21-30 and/or October 1-10 shipments.
Abdel-Hamid said he had only received bids for US and French wheat.
GASC, which has returned to the US market for about half a million tonnes of US SRW and SWW wheat since June after using other suppliers in the prior marketing year, last bought US wheat earlier this month, taking 60,000 tonnes of SRW wheat for September 11-20 shipment.
This week's tender marked the second time that GASC has invited but not received bids from Syria, a non-traditional supplier.
Egypt, the Arab world's most populous country with roughly 70 million people, is one of the world's biggest wheat buyers, purchasing about seven million tonnes of foreign wheat a year.
MGR Archive 27.8.2003
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Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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