Odesa port will ship 120 thousand tons of wheat for Egypt

The General Directorate for the Supply of Raw Materials of Egypt has purchased 600 thousand tons of wheat from Ukraine, Romania and Russia.

“The purchase of GASC on Monday was one of the largest this season. The state grain buyer could take advantage of the fall in prices in the markets,” traders told Refinitiv Agriculture, citing Reuters.

Traders note that grain futures have plummeted amid concerns over the emergence of a new COVID-19 varriant – Omicron. GASC is also reported to be lagging behind in wheat purchases this year. Another source told Reuters that Egypt wants to avoid a possible shortage before the start of the Christmas holidays.

It is noted that GASC purchased the following consignments of Black Sea wheat for delivery on January 9th-20th:

120 thousand tons of Ukrainian wheat – 2 consignments of 60 thousand tons each from Louis Dreyfus Company from the port of Odesa at a price of $379.10 per ton C&F ($352 + freight $27.10 NNC);

240 thousand tons of Romanian wheat from the port of Constanta:

• 60 thousand tons from Aldahra at a cost of $375.90 C&F per ton ($350.85 + freight $25.05 NNC);
• 60 thousand tons from Grain Export at $378.55 C&F per ton ($353.50 + freight $25.05 NNC);
• 60 thousand tons from CHS at $378.55 C&F ($353.50 + freight $25.05 NNC);
• 60 thousand tons from ADM at $378.55 C&F ($353.50 + freight $25.05 NNC);

240 thousand tons of Russian wheat:

• 60 thousand tons from Solaris (Novorossiysk port) at a price of $377.67 C&F per tonne ($351.37 + freight $26.30 NNC);
• 60 thousand tons from GTCS – KSK at $ 378.55 C&F ($352.25 + freight $26.30);
• 60 thousand tons from ADM (port of Novorossiysk) at $378.67 C&F ($352.37 + freight $26.30 NNC);
• 60 thousand tons from Aston (port of Novorossiysk) at $378.67 C&F ($352.37 + freight $26.30 NNC).