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Sunday, 16 October 2016

GASC excludes Egyptian trading houses from tender

The General Authority for Supply Commodities (GASC) has excluded Egyptian buyers from participating in its wheat tenders, Reuters’ Arabic service reported. This would exclude companies including trading house Venus, which had presented GASC wheat offers during its zero-ergot tolerance policy, from participating in future tenders. Traders told the newswire the reasons behind the restrictions are unclear. Separately, traders said the lowest offer presented to GASC for its tender on Thursday came from Russia, after a bid for US wheat was rejected as it contained durum wheat instead of soft wheat. GASC was looking for wheat for delivery from 11 to 20 November. This comes as GASC has purchased 120k tonnes of Romanian wheat and 60,000 tonnes of Russian wheat at a price of c USD 187 per tonne for both shipments, Al Masry Al Youm reports.

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