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April 19, 2021
BUSINESS

Egypt buys 60,000 tons of wheat from Romania

* Romania is the second-largest wheat exporter to Egypt, behind France

 

Egypt’s General Authority for Supply Commodities (GASC) announced last Friday that it bought 300,000 tons of wheat from France, Romania and Russia, a quantity that will be delivered on June 5-15, Reuters informs.

Egypt bought wheat from France’s Glencore, Soufflet and Cargill companies (60,000 tons each), as well as 60,000 tons of wheat from Romania’s Nidera and another 60,000 tons of wheat from Russia’s Cargill, GASC Vice President Mamdouh Abdel Fattah stated. According to him, the average price stood at USD 221.39 per ton, a price that includes shipment.

According to traders, Nidera offered 60,000 tons of Romanian wheat at a price of USD 213.99 per ton FOB, plus USD 9.10 per ton for shipment. In contrast, France’s Glencore offered 60,000 tons at a price of USD 206 per ton FOB, plus USD 13.50 per ton for shipment. Soufflet and Cargill offered French wheat at a price of USD 208.44 and USD 208.50 per ton respectively, plus USD 12.65 per ton for shipment.

Egypt, the world’s biggest importer of wheat, frequently buys wheat from Romania. The previous purchase was made on February 4, when Egypt’s GASC signed a contract to buy 120,000 tons of Romanian wheat from Ameropa and another 60,000 tons of Romanian wheat from Nidera. Back then the average price stood at USD 236.25 per ton, including shipment.

In 2014/2015 Egypt bought over 1.2 million tons of wheat from Romania.

 

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