Russian wheat cheapest on C&F basis in Egypt wheat tender (updated)

C&F Financial

06/04/2023 13:12

(Adds cost and freight)
       CAIRO, April 6 (Reuters) - 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 Inndustrial 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. 
    Traders gave the following breakdown of the offers on a FOB
basis in dollars per tonne:   
 
 Supplier     Quantity  Origin      FOB     Shipment    Comment
              (KMT)                 ($)                 
 Viterra      60        Ukrainian   272.00  May 10-20   
 Inerco       60        Ukrainian   273.30  May 10-20   
 Trade                                                  
 Aston Agro   60        Russian     275.00  May 10-20   
 Industrial                                             
 SA                                                     
 Grain        60        Russian     275.00  May 10-20   
 Flower                                                 
 Grain        40        Russian     275.00  May 10-20   
 Flower                                                 
 ME Solaris   55        Russian     288.36  May 10-20   
 Commodities                                            
 Cofco        60        Romanian    289.99  May 10-20   
 Soufflet     60        French      291.82  May 10-20   OR
 Aston Agro   60        Russian     275.00  May 21-31   
 Industrial                                             
 SA                                                     
 Grain        60        Russian     275.00  May 21-31   
 Flower                                                 
 Grain        40        Russian     275.00  May 21-31   
 Flower                                                 
 Buildcom     50        Bulgarian   284.84  May 21-31   
 ADM          40        Romanian    285.00  May 21-31   
 ME Solais    60        Russian     288.36  May 21-31   
 Commodities                                            
 Viterra      60        French      288.50  May 21-31   
 Agro         60        Romanian    289.00  May 21-31   
 Chirnogi                                               
 Soufflet     60        French      291.82  May 21-31   OR
 Cofco        60        Romanian    291.99  May 21-31   
 
    Traders said the following offers were the most competitive
including cost and freight: 
    
 Supplier     Quan  Origin     FOB     Shipment  Freight  C&F
              tity             ($)               ($)      ($)
              (KMT                                        
              )                                           
 Aston Agro   60    Russian    275.00  May       18.00    293.00
 Industrial                            10-20              
 SA                                                       
 Grain        40    Russian    275.00  May       19.00    294.00
 Flower                                10-20              
 Cofco        60    Romanian   289.99  May       16.43    306.42
                                       10-20              
 ME Solais    55    Russian    288.36  May       25.50    313.86
 Commodities                           10-20              
 Soufflet     60    French     291.82  May       23.50    315.32
                                       10-20              
 Viterra      60    Ukrainian  272.00  May       52.00    324.00
                                       10-20              
 Inerco       60    Ukrainian  273.30  May       52.00    325.30
 Trade                                 10-20              
 Grain        40    Russian    275.00  May       18.00    293.00
 Flower                                21-31              
 Aston Agro   60    Russian    275.00  May       18.00    293.00
 Industrial                            21-31              
 SA                                                       
 Buildcom     50    Bulgarian  284.84  May       17.50    302.34
                                       21-31              
 Agro         60    Romanian   289.00  May       16.43    305.43
 Chirnogi                              21-31              
 Cofco        60    Romanian   291.99  May       16.43    308.42
                                       21-31              
 Viterra      60    French     288.50  May       23.50    312.00
                                       21-31              
 
    
    No purchase has yet been made but tender results are
expected later on Thursday.  

 (Reporting by Sarah El Safty and Michael Hogan; editing by
David Goodman, Jason Neely and Barbara Lewis)
 ((Sarah.ElSafty@thomsonreuters.com;))