October 4, 2016 / 2:53 PM / 3 years ago

UPDATE 2-Egypt's GASC draws nine offers in wheat tender

(Adds C&F offers)

ABU DHABI/CAIRO, Oct 4 (Reuters) - Egypt’s state grain buyer, the General Authority for Supply Commodities (GASC), received nine offers from seven companies at its wheat tender on Tuesday, traders said.

The lowest offer was at $177.77 per tonne free-on-board for 60,000 tonnes of Russian wheat and was presented by Union company, traders said.

GASC held the tender to buy an unspecified amount of wheat from global suppliers for shipment from Nov. 1-10.

The tender is the second since Egypt lifted a controversial ban on the common grains fungus ergot in shipments that had all but blocked its access to global grains.

Traders said that premiums were lower than at the previous tender, down to about $5-$7 from at least $10 at GASC’s purchase last month.

Results are expected later on Tuesday.

Traders said the following offers were made in Tuesday’s tender in dollars per tonne FOB:

*Louis Dreyfus: 60,000 tonnes of Russian wheat at $181.74

*Union: 60,000 tonnes of Russian wheat at $177.77

*ADM: 60,000 tonnes of Russian wheat at $179.50 and 60,000 tonnes of Russian wheat at $180.50

*Alegrow: 60,000 tonnes of Russian wheat at $179.50

*Venus: 60,000 tonnes of Russian wheat at $181.45

*Aston: 60,000 tonnes of Russian wheat at $183.50

*ADM: 60,000 tonnes of Romanian wheat at $180.99

*Ameropa: 60,000 tonnes of Romanian wheat at $192.33

Traders also said that they estimated the lowest cost and freight prices (C&F) in dollars per tonne as follows:

*Union: 60,000 tonnes of Russian wheat at $177.77 FOB and$8.60 freight, equating to $186.37 C&F

*ADM: 60,000 tonnes of Russian wheat at $179.50 FOB and $8.60 freight, equating to $188.10 C&F

*Alegrow: 60,000 tonnes of Russian wheat at $179.50 FOB and $8.60 freight, equating to $188.10 C&F

*Venus: 60,000 tonnes of Russian wheat at $181.45 FOB and $6.75 freight, equating to $188.20 C&F

*ADM: 60,000 tonnes of Russian wheat at $180.50 FOB and $8.60 freight, equating to $189.10 C&F

*ADM: 60,000 tonnes of Romanian wheat at $180.99 FOB and $8.19 freight, equating to $189.18 C&F

*Louis Dreyfus: 60,000 tonnes of Russian wheat at $181.74 FOB and $8.83 freight, equating to $190.57 C&F

*Aston: 60,000 tonnes of Russian wheat at $183.50 FOB and $7.80 freight, equating to $191.30 C&F

Reporting by Maha El Dahan and Eric Knecht; additional reporting by Valerie Parent in Paris; Editing by Susan Fenton and David Evans

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