Egypt's GASC says cancels wheat tender

Thu Jun 19, 2008 9:06am EDT
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CAIRO (Reuters) - Egypt's main government wheat buyer said on Thursday it had cancelled a tender in which it sought wheat for shipment between July 16 and 31.

"We cancelled the tender," said Said el-Hefny, vice chairman of the General Authority for Supply Commodities (GASC). He declined to give a reason.

European traders said that offers submitted to Egypt ranged between $285 and $346 a tonne FOB.

The cheapest offer was for Canadian wheat, priced at $285 per tonne FOB, but traders stressed that it was unlikely it would win the tender because of a freight disadvantage.

GASC had said it wanted to buy 55,000 to 60,000 tonnes of U.S., French, Australian, Canadian, German, Argentine and/or Kazakhstan wheat for shipment July 16-31.

GASC was also seeking 30,000 and/or 60,000 tonnes of Russian, United Kingdom or Syrian wheat.

GASC resumed serious wheat buying a week ago after a long gap while the Egyptian government bought from local farmers. The local harvest has now ended in most parts of the country.

Since the start of the fiscal year on July 1, GASC has bought at least 6.26 million tonnes of wheat, mostly from Russia, the United States and Kazakhstan, with smaller quantities from France and Canada.

(Writing by Jonathan Wright, Editing by Peter Blackburn)