Egypt's GASC believed to have bought 55,000 tonnes of Russian wheat -traders (updated)

Caisse Reg Credit Agric Mut Nord France

06/06/2023 20:39

(Adds details)
       CAIRO, June 6 (Reuters) - Egypt's General Authority for
Supply Commodities (GASC) is believed to have bought around
55,000 tonnes of Russian wheat in an international tender,
traders said. 
    GASC did not make an official announcement of the purchase. 
    Traders gave the following breakdown of the purchase:
    *         AGRIC SA: 55,000 tonnes of Russian wheat at $229
FOB +
$15.50 freight= $244.50
      

    Traders believed there was a lack of communication about the
unofficial Russian export prices and that the lowest bidder may
have sought to withdraw the offer. 
        However, traders believe that longstanding policy is
that offers cannot be withdrawn once submitted and penalty
payments can be demanded.
  
    GASC was seeking wheat for shipment July 21-31, 2023. It
asked suppliers to submit offers on a free-on-board basis, with
payment to be made at sight using funding from the International
Islamic Trade Finance Corporation (ITFC).  
        For a full list of offers presented at the tender, click
on  urn:newsml:reuters.com:*:nL1N37Y0YQ 
  

 (Reporting by Sarah  El Safty and Michael Hogan
Editing by Chris Reese and David Gregorio)
 ((Sarah.ElSafty@thomsonreuters.com;))