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Wednesday, 30 August 2017

GASC purchases 295k tonnes of Russian, Romanian wheat

The General Authority for Supply Commodities (GASC) purchased 295k tonnes of wheat yesterday, of which 235k tonnes came from Russia and 60k tonnes from Ukraine, Reuters reports. The lowest offer GASC received in the tender was USD 186.05 per tonne free-on-board (FOB) for 60k tonnes of Russian wheat, traders tell the newswire. The Ukrainian wheat was purchased at USD 187.00 per tonne FOB. “The price spread is now huge in the GASC offers, with Russia dominating,” according to a Europe-based trader. The tender comes as public prosecutor is set to decide on whether the 63k tonnes of Romanian wheat found to contain poppy seeds should be rejected after the Eid Al Adha holiday.

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