GASC agrees to purchase 60k tonnes of wheat at USD 221 per tonne

State grain purchaser GASC concluded its wheat tender yesterday, receiving the lowest offer from Cargill of USD 221 per tonne for 60k tonnes of US soft red wheat, reports Reuters. GASC had announced it would be reverting to a delayed payment schedule, which led to an increase of USD 4 - 4.5 per tonne for the current tender. Wheat productivity saw a 20% increase this season compared to the previous year, Sherif Bassily, head of the Holding Company for Silos, told VetoGate. Bassily said the increase is due to weather-related factors and 3.7-4 mn tonnes are expected to be harvested this year.