At the latest auction organized by GASC (General Authority for Supply Commodities), Egypt purchased six shipping lots (360 thousand tons) of wheat, including five lots (300 thousand tons) of Russian origin, as reported by the news agency Interfax citing the Grain Exporters Union.
The cost of the wheat was $265 per ton (FOB) with a deferred payment of 270 days and a delivery date from March 15 to 20.
The share of Russian wheat in tenders in Egypt in the 2023/2024 season continues to increase. According to the analytical center of Rusagrotrans JSC, it has increased to 66% in the first half of the season (July-December 2023) compared to 62% the previous year. The volume of purchased wheat from Russia amounted to 2.9 million tons out of a total procurement volume of 4.4 million tons. Purchases growth in the current season reached 11.5%.