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Egypt’s GASC buys US and Russian wheat in tender

 Egypt, the world's biggest importer of wheat, bought 240,000 tonnes of Russian and US soft red winter wheat for shipment March 1-10, the main government wheat buying entity said on Tuesday.

Mamdouh Abdel Fattah, vice chairman of the General Authority for Supply Commodities (GASC), gave the following breakdown of the purchases:

– 60,000 tonnes of Russian wheat from Louis Dreyfus at $298.95 a tonne cost and freight.

– 60,000 tonnes of Russian wheat from Venus at $298.95 a tonne cost and freight.

– 60,000 tonnes of Russian wheat from Cenex Harvest at $299.85 a tonne cost and freight.

– 60,000 tonnes of US soft red winter wheat from Ameropa at $299.85 a tonne cost and freight.

A Cairo-based trader said the free-on-board prices offered for the Louis Dreyfus and Venus sale of Russian wheat was $283.50 a tonne with freight of $15.45 a tonne.

The free-on-board price for the Russian wheat from Cenex Harvest was $283.25 a tonne with freight of $16.60 a tonne while that for the US soft red winter wheat from Ameropa was $259.78 a tonne with freight of $40.07.

It was GASC's 19th international tender since the removal of former President Mohamed Mursi by the army on July 3 last year in response to protests against his rule.

In its last international tender on Jan. 16, GASC said it had bought 295,000 tonnes of Ukraine, Russian, French and US origin wheat for shipment Feb. 15-28.

GASC said earlier Tuesday it would reject any offers of wheat containing a moisture level over 13 percent, a move expected to knock French-origin grain out of future purchases.

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