(Adds cost and freight offers)
CAIRO, March 26 (Reuters) - An Egyptian state purchase tender for wheat attracted a lowest offer of $221 per tonne for 60,000 tonnes of U.S. soft red wheat, traders said on Tuesday.
The offer was presented by Cargill. Egypt's state grains buyer, the General Authority for Supply Commodities (GASC), had been out of the market for wheat since its last tender on Feb. 20. It said on Monday it would go back to securing letters of credit within 180 days instead of immediate payment.
The buyer said in January it would start immediate on-sight payment after obtaining financing from Islamic Trade Finance Corp for its international purchasing tenders, a move that was expected to lower the prices on offer.
Traders said the change in payment increased prices by at least $4-$4.5 per tonne.
GASC is seeking an unspecified quantity of wheat for shipment April 25-May 5. The results are expected to be announced later on Tuesday.
Traders gave the following breakdown of the offers per tonne on a free-on-board (FOB) basi
- Cargill: 60,000 tonnes of U.S. soft red wheat at $221.00
- Cargill: 60,000 tonnes of U.S. soft red wheat at $221.00
- Soufflet: 60,000 tonnes of French wheat at $234.74
- Glencore: 60,000 tonnes of French wheat at $234.80
- Cargill: 55,000 tonnes of Russian wheat at $237.50
- Posco: 60,000 tonnes of French wheat at $237.50
- Louis Dreyfu 60,000 tonnes of Ukrainian wheat at $238.00
- Amerop 60,000 tonnes of Romanian wheat at $238.26
- Cerealcom: 60,000 tonnes of Romanian wheat at $238.79
- CHS: 60,000 tonnes of Romanian wheat at $239.37
- Amerop 60,000 tonnes of Romanian wheat at $239.73
- Casillo: 60,000 tonnes of French wheat at $239.89
- Posco: 60,000 tonnes of Russian wheat at $241.50
- Posco: 55,000 tonnes of Russian wheat at $241.50
- Garant Logistic 60,000 tonnes of Russian wheat at $245.00
- GTCS: 60,000 tonnes of Russian wheat at $246.00
Traders said the following were the best offers including cost and freight (C&F):
- Cargill: 60,000 tonnes of U.S. soft red wheat at $221.00 and $27.29 freight equating to $248.29
- Cargill: 60,000 tonnes of U.S. soft red wheat at $221.00 and $27.58 freight equating to $248.58
- Amerop 60,000 tonnes of Romanian wheat at $238.26 and $11.80 freight equating to $250.06
- Cerealcom: 60,000 tonnes of Romanian wheat at $238.79 and $11.80 freight equating to $251.10
- Cargill: 55,000 tonnes of Russian wheat at $237.50 and $13.60 freight equating to $251.75
- Louis-Dreyfu 60,000 tonnes of Ukrainian wheat at $238.00 and $13.75 freight equating to $251.75
- CHS: 60,000 tonnes of Romanian wheat at $239.37 and $11.80 freight equating to $251.17
