June 12, 2018 / 1:10 PM / 4 months ago

UPDATE 2-Egypt's GASC gets wheat tender offers after lowering supplier costs

* GRAPHIC tmsnrt.rs/2zp5spU (Adds C&F prices, context)

CAIRO/DUBAI, June 12 (Reuters) - The lowest offer put forward at an international wheat purchase tender held on Tuesday by Egypt’s state buyer GASC was at $209.50 per tonne free-on-board (FOB) for Russian wheat, traders said.

Egypt, the world’s largest wheat buyer, amended some of its wheat purchasing tender terms to reduce costs for suppliers, including lower fees for demurrage and costs associated with inspections.

The lowest offer after accounting for shipping costs was $224.64 per tonne for 60,000 tonnes of Russian wheat and was presented by GTCS.

GASC on Monday said it was looking to buy an unspecified amount of wheat from global suppliers for shipment July 15-25.

Results are expected on Tuesday.

The tender is the second since Egypt began its own local harvest, a period in which it typically pauses import tenders. The government has said it hopes to purchase about 3.5 million tonnes from its farmers.

It comes after GASC cancelled a 60,000-tonne Russian purchase from Dubai-based trader AOS amid delays with at least two of the company’s cargoes abroad and a third held in Egypt.

Traders gave the following breakdown of the offers in dollars per tonne on an FOB basis:

*GTCS: 60,000 tonnes of Russian wheat at $209.50, 60,000 tonnes of Russian wheat at $210, 60,000 tonnes of Russian wheat at $211, 60,000 tonnes of Russian wheat at $212

*Aston: 60,000 tonnes of Russian wheat at $212.50

*Daewoo: 60,000 tonnes of Russian wheat at $209.75

*Ameropa: two cargoes each 60,000 tonnes of Romanian wheat at $211.69

*ADM: 60,000 tonnes of Romanian wheat at $213.49 and/or 60,000 tonnes of Romanian wheat at $214.99

*Casillo: 60,000 tonnes of Romanian wheat at $214.89

*Cargill: 60,000 tonnes of Romanian wheat at $221.50

Traders said the best cost and freight (C&F) offers in dollars per tonne were as follows:

• GTCS: 60,000 tonnes Russian at $209.50 and $15.14 freight equating to $224.64 C&F

• Daewoo: 60,000 tonnes Russian at $209.75 and $15.14 freight equating to $224.89 C&F

• GTCS: 60,000 tonnes Russian at $210 and $15.14 freight equating to $225.14 C&F

• Ameropa: 60,000 tonnes Romanian at $211.69 per tonne and $14.02 freight equating to $225.71 C&F

• Ameropa: 60,000 tonnes Romanian at $211.69 per tonne and $14.02 freight equating to $225.71 C&F

• GTCS: 60,000 tonnes Russian at $211 and $15.14 freight equating to $226.14 C&F

Reporting by Eric Knecht, Maha El Dahan and Michael Hogan; editing by Jason Neely

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