Union: Egypt buys 780,000 tns of Russian wheat this week

MOSCOW, Oct 13 (PRIME) -- Egypt’s General Authority for Supply of Commodities (GASC) has agreed to buy 780,000 tonnes of Russian wheat this week, the Russian Union of Grain Exporters said in a statement on Friday.

On Tuesday, GASC acquired 480,000 tonnes of Russian wheat without a tender at U.S. $265 per tonne under a letter of credit with a 270-day deferment. The authority also held a tender on Thursday to buy wheat with FOB delivery in 15–30 days and with a 180-day or a 270-day deferment of payment.

“Following a large private deal, GASC ensured its success and bought 300,0000 tonnes of Russian wheat during a tender that concluded yesterday. The price of supplies stands at $260 FOB with a 180-day deferment,” the union said.

Besides Russian wheat, GASC bought 50,000 tonnes of wheat from Bulgaria for $257 per tonne and 120,000 tonnes of wheat from Romania for $260 per tonne on Thursday, the union added.

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