GASC puts out a fresh international wheat tender: State grain buyer GASC has launched an international tender to purchase 30k-60k tons of wheat on a cost and freight basis for February delivery, according to a GASC statement. Traders need to submit their bids directly to GASC by midday tomorrow.

Thanks, World Bank: The purchase will be funded with a portion of the USD 500 mn loan the World Bank agreed to extend the country last summer. The loan is geared towards boosting our food security.

Wheat tenders have been few and far between lately: The state buyer has largely shifted from international tenders to direct purchases of wheat since the outbreak of war in Ukraine sent the grain markets into turmoil last year. High prices and a lack of offers saw GASC cancel some of the few international tenders that were scheduled. The authority has in recent months made several large direct purchases of Russian wheat.

REMEMBER- Suppliers to GASC are now obliged to register to the newly-launched Egyptian Mercantile Exchange (EMX), the statement reads. GASC has been selling wheat on the exchange since its November launch, last Wednesday reportedly selling 20k tons of Russian wheat at EGP 10.3k per ton to 73 mills in what was the EMX’s 11th trading session.