{"id":563087,"date":"2021-06-17T03:45:31","date_gmt":"2021-06-17T03:45:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/wheat-suppliers-allowed-to-submit-shipment-bids-to-gasc\/"},"modified":"2021-06-17T03:45:31","modified_gmt":"2021-06-17T03:45:31","slug":"wheat-suppliers-allowed-to-submit-shipment-bids-to-gasc","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/wheat-suppliers-allowed-to-submit-shipment-bids-to-gasc\/","title":{"rendered":"Wheat suppliers allowed to submit shipment bids to GASC"},"content":{"rendered":"

<\/a> State grain buyer GASC is allowing wheat suppliers to submit bids to ship the <\/strong>grain<\/strong> under a new amendment to the tender book for international wheat purchases, according to a document seen by Reuters<\/a>.<\/p>\n

In detail:<\/strong> All suppliers can now bid directly to GASC, and can submit their guarantees to the government body regulating the import of crops. Previously only traders with freight carriers registered with the Egyptian Company for Maritime Transport were permitted to present shipping offers. The decision, taken by the Supply Ministry, will be effective as of GASC\u2019s next tender.<\/p>\n

What\u2019s the rationale?<\/strong> The move is designed to lower freight rates, which have climbed in recent weeks as oil prices have increased, a source at the Egyptian Holding Company for Silos and Storage told Enterprise. On Tuesday GASC called off<\/a> an international wheat tender in which it received only three offers, reportedly due to expensive freight rates.<\/p>\n

But this may not solve the problem:<\/strong> \"[This change] doesn't solve their immediate problem which is high freight rates,\u201d one Egyptian trader said. The fluctuation of oil prices will in large part determine the cost of shipping. \u201cBy the next tender oil could be up which will make [freight] more expensive, or by chance it could be down and freight will be lower,\" said another trader.<\/p>\n

That\u2019s not to say the amendment won\u2019t make some impact:<\/strong> The change should address the lack of available vessels. \u201cI think it will give more suppliers a better chance and will increase overall freight competition, which is ultimately for the good of Egypt,\u201d another trader said.<\/p>\n

The new amendment is unlikely to benefit wheat sellers<\/strong>, who may be unwilling to provide ships as well, but large trading houses with freight departments may benefit, a European trader said.<\/p>\n","protected":false},"excerpt":{"rendered":"

State grain buyer GASC is allowing wheat suppliers to submit bids to ship the grain under a new amendment to the tender book for international wheat purchases, according to a document seen by Reuters. In detail: All suppliers can now bid directly to GASC, and can submit their guarantees to the government body regulating the […]<\/p>\n","protected":false},"author":1,"featured_media":563088,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7305],"tags":[317,72,550,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities","tag-commodities","tag-enterpriseam","tag-gasc","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"5a2be632-69d6-429f-ac47-bfe86cd503a9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/233.jpg","photo_position":"above","related_issue":[563079],"teaser":"","voice_url":""},"yoast_head":"\nWheat suppliers allowed to submit shipment bids to GASC - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/wheat-suppliers-allowed-to-submit-shipment-bids-to-gasc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wheat suppliers allowed to submit shipment bids to GASC\" \/>\n<meta property=\"og:description\" content=\"State grain buyer GASC is allowing wheat suppliers to submit bids to ship the grain under a new amendment to the tender book for international wheat purchases, according to a document seen by Reuters. 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Traders need to submit their bids directly to GASC by midday tomorrow.Thanks, World\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/114.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547962,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/20\/gasc-scraps-wheat-tender-on-high-prices\/","url_meta":{"origin":563087,"position":1},"title":"GASC scraps wheat tender on high prices","author":"enterpriseam admin","date":"20 July 2022","format":false,"excerpt":"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\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556333,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/20\/gasc-is-angling-for-more-competitive-pricing-on-grain-shipping\/","url_meta":{"origin":563087,"position":2},"title":"GASC is angling for more competitive pricing on grain shipping","author":"enterpriseam admin","date":"20 October 2021","format":false,"excerpt":"GASC may suspend NNC\u2019s price advantage on grain shipments: State grain buyer GASC is set to suspend the 15% price advantage currently extended to national shipping line National Navigation Company (NNC) on delivering wheat imports to Egypt, Reuters reports, citing traders in Egypt and Europe. GASC runs shipping tenders parallel\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":545782,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/12\/gasc-is-tendering-again-but-only-for-european-wheat\/","url_meta":{"origin":563087,"position":3},"title":"GASC is tendering again \u2014 but only for European wheat","author":"enterpriseam admin","date":"12 April 2022","format":false,"excerpt":"GASC wants to buy wheat \u2014 but only from European suppliers: State grain buyer the General Authority for Supply Commodities (GASC) issued yesterday a limited tender for an unspecified amount of European wheat, Reuters reported. The tender is open only to European suppliers already accredited in GASC\u2019s tender book, marking\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/208.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570562,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/06\/egypts-gasc-wants-to-change-its-wheat-import-regulations\/","url_meta":{"origin":563087,"position":4},"title":"Egypt\u2019s GASC wants to change its wheat import regulations","author":"enterpriseam admin","date":"6 April 2020","format":false,"excerpt":"The General Authority for Supply Commodities (GASC) is looking to change its grain import process to include at-sight letters of credit (LCs) for upcoming tenders, assuring payments to suppliers as soon as they submit the necessary documents, Reuters reports, citing unnamed traders. 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