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Tuesday, October 4, 2022

Egypt’s GASC seeks to buy wheat in direct talks

HAMBURG/CAIRO: Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC) will seek to buy an unspecified amount of wheat in direct talks with trading houses without an international tender being issued, traders said on Tuesday.

The deadline for submission of price offers is Wednesday, July 20. Offers can be submitted for all origins in GASC’s accepted list and must remain valid until Thursday, July 21.

The direct talks will seek wheat for shipment between Sept. 16-30, Oct. 1-15, Oct. 16-31 and Nov. 1-15 with traders free to offer for any of the shipment periods. Payment is in 180 days from the contract award.

GASC earlier on Tuesday rejected offers in an international tender for the same shipment periods but in which Egypt’s traditional supplier regions in the Black Sea and Europe were excluded, with only wheat from the United States offered. “I think Egypt needs wheat from the Black Sea and EU, and that today’s tender showed that the alternatives are not cheap,” one trader said.

Egypt’s GASC seeks to buy wheat in direct talks

Source: Brecorder

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