GASC wheat tender today

Today, April 13, Egyptian GASC will hold a tender for wheat.

According to trade sources, GASC wants to see wheat originating from the European Union only. However, if the suppliers decide to offer other origins than the EU, for instance russia, for a competitive price then GASC could prefer that other origin.

The problem is that the Islamic Trade Finance Corporation (ITFC) can pay for russian wheat solely in US$, whereas the russians will not be able to receive this payment.