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FINANCIAL NEWS
Egypt purchases 120,000 T Russian wheat for Sep shipment
12 Aug 2012
(MENAFN) Egypt’s General Authority for Supply Commodities (GASC) said that it has imported 120,000 tons of Russian wheat for September 20 shipment on a free on board basis, Reuter reported.
Vice chairman Nomani Nomani detailed that the authority bought 60,000 T of Russian wheat from Glencore at USD316.47/ton with freight costs of USD10.90 per ton, and 60,000 T of Russian wheat from Soyuz at USD316.47/ton with freight costs of USD10.73 per ton.
Egypt, the world’s largest wheat buyer, last bought wheat on April 5, when GASC bought 115,000 T US soft red winter wheat for May 21-31 shipment.
During the 2011/12 fiscal year, GASC’s purchases were dominated by Black Sea origin wheat.
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