Egypt’s GASC directly buys 240,000 tonnes of Russian wheat: Ministry

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Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC), directly purchased 240,000 tonnes of Russian wheat on August 22, the supply ministry said in a statement to Reuters.

The cargoes will be shipped over the following periods: September 20 to October 10, October 11 to October 30 and October 21 to November 10, the ministry said.

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The purchase comprised of six cargoes of 40,000 tonnes of Russian wheat sold on a cost and freight basis, two people with knowledge of the matter said.

The ministry did not disclose the price but traders said they thought it was sold at a price of $368 per tonne.

Further purchases could still be made as talks were still ongoing, the people said.

Read more: Egypt’s deal to buy Indian wheat at $400 per tonne stands: Supply minister

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