GASC is back in the market seeking wheat for March 22- April 1 shipment 21 February, 2018 at 14:02

Egypt's General Authority for Supply Commodities (GASC) was back in the market on Tuesday/Wednesday, looking to buy an unspecified amount of wheat third time in a month for delivery from March 22-April 1.

At its previous tender on February 9, GASC booked 360,000 mt of wheat for delivery from March 12-22 at an average $222.08/mt (CFR), including 240,000 tonnes of Russian wheat.

Russia is a traditional supplier of wheat to Egypt. However, tightening supply and continued demand has led the Russian 12.5% protein wheat assessment to rise 4.2% since the previous tender to $203.50/mt FOB Novorossiysk, potentially opening the door to further non-Russian cargoes.