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CAIRO, Nov 26 (Reuters) - Egypt's state grains buyer, the General Authority for Supply Commodities (GASC,) on Thursday received a lowest offer of $261 a tonne for 55,000 tonnes of Russian wheat in an international purchase tender, traders said.
The offer was presented by GTCS. GASC is seeking an unspecified quantity of wheat for shipment Jan 20-31.
At its last wheat tender on Nov. 5, GASC bought 300,000 tonnes of Russian grain.
Egypt is looking to maintain strategic reserves of about 6 months in the face of uncertainty over global supply because of the COVID-19 pandemic.
The finance ministry on Wednesday said it would be paying the value-added tax on the freight of imported wheat cargoes until the government ammends the law to remove those charges.
Traders said exempting the freight from the VAT could help to lower the overall cost of importing grain at a time when prices have soared.
Traders said the following were the offers presented at the tender in dollars per tonne on a free-on-board (FOB) basis:
Supplier Quantity Origin FOB GTCS 55,000 Russian $261.00 Soufflet 60,000 French $269.75 Ameropa 60,000 Romanian $268.79 Posco 60,000 Russian $262.80 LDC 60,000 Ukrainian $270.07 ADM 55,000 Russian $265.50 Nibulon 60,000 Ukranian $264.70 Solaris 60,000 Russian $267.45 Grain 60,000 Russian $264.00 ExportCargill 55,000 Russian $266.00 Glencore 55,000 Russian $270.86 Agro AST 60,000 Russian $262.90 Traders said the following were the best offers includingcost and freight: Supplier Quantity Origin FOB Freight C&F GTCS 55,000 RUSS $261.00 $13.83 $274.83 Posco 60,000 RUSS $262.80 $12.89 $275.69 Agro AST 60,000 RUSS $262.90 $12.89 $275.79 Grain 60,000 RUSS $264.00 $12.89 $276.89 Export
Nibulon 60,000 UKR $264.70 $12.90 $277.60 ADM 55,000 RUSS $265.50 $13.85 $279.35No purchase has yet been made but results are expected later on Thursday.
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(Adds C&F) CAIRO, Nov 26 (Reuters) - Egypt's state grains...
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