The General Authority For Supply Commodities (GASC) canceled its latest wheat tender yesterday, due to higher-than-expected prices, it said in astatement. The authority was seeking wheat from the US, Canada, Australia, Argentina or Brazil for delivery between September and November but faced paying at least USD 443 per ton after it only received offers from the US, traders said. French and Russian wheat were also offered but were rejected.

GASC isn’t giving up: Traders said that the state grain buyer is inviting new offers today. This time it is accepting offers from all 17 import origins accredited by the state buyer. Suppliers will submit bids on a cost and freight basis (CFR) for shipment between September and November.

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