Russian share in Egyptian grain tenders this season increases to 66% - Rusagrotrans

MOSCOW. Jan 16 (Interfax) - The share of Russian wheat in Egyptian GASC (food purchasing agency) tenders in the first half of the 2023/2024 season was 66% compared to 62% a year ago.

"In the current season, GASC purchased 2.9 million tonnes of wheat from Russia, that is, 66% of the total purchase volume of 4.4 million tonnes. At the beginning of January last season, 2.6 million tonnes were purchased, which was 62% of the total purchase volume of 4.2 million tonnes," the Rusagrotrans analytical center told Interfax.

At the same time, the center said that purchases this season increased 11.5%

In particular, at the February 29 - March 11 shipment tender, of 420,000 tonnes of wheat purchased by GASC, 360,000 tonnes were from Russia at a price of $265 per tonne (FOB).

Algeria plans to hold a tender for the purchase of soft wheat this week.

Export demand prices for Russian wheat (protein 12.5%) for shipment in January-February did not change over the week, remaining at $242 per tonne (FOB), the center said. The price of American wheat decreased $6 to $261, decreased $3 for French wheat to $243, and was down $1 for German wheat to $249 per tonne.

Prices for wheat (grade 4, 12.5% protein) in deep-sea ports increased 150 rubles compared to the end of December to 14,200-14,300 rubles per tonne (excluding VAT).

The center also reported that the forecast for wheat exports in January was reduced from 3.9 million to 3.8 million tonnes due to low rates of shipment towards Baltic ports, as well as to Kazakhstan.