egypt agrees to buy 180,000 tons of wheat from u.s
June 30 (Bloomberg) -- Egypt, the world's second-biggest wheat importer, agreed to buy 180,000 metric tons of U.S. and Australian varieties of the grain from Bunge Ltd. and AWB Ltd.
Egypt will purchase a 60,000-ton cargo of U.S. soft red winter wheat at $132.42 a ton from Bunge, according to Nomani Nomani, general manager of Egypt's General Authority for Supply Commodities. The shipments, in the week that ends July 31, are on a free on board basis, which means that delivery at the seller's expense is included in the invoice price.
The nation will also buy a 60,000-ton cargo of Australian standard white wheat from AWB Ltd. at $140.50 a ton and a 60,000- ton cargo of Australian hard wheat at $145.30 a ton from AWB, Nomani said in a telephone interview today. His comments followed a tender process in Cairo.
Egypt may buy a record amount of wheat in the marketing year that begins July 1, as its currency strengthens, the U.S. Foreign Agricultural Service said March 9. The country's imports may reach 7.6 million metric tons, from a forecast 7.5 million tons in the marketing year that ends today.
Only China imported more wheat than Egypt last year, according to the U.S. Department of Agriculture's Web site.
AWB Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
