{"id":638015,"date":"2024-08-07T00:00:00","date_gmt":"2024-08-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/07\/our-biggest-wheat-tender-to-date\/"},"modified":"2024-08-07T00:00:00","modified_gmt":"2024-08-07T00:00:00","slug":"our-biggest-wheat-tender-to-date","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/07\/our-biggest-wheat-tender-to-date\/","title":{"rendered":"Our biggest wheat tender to date"},"content":{"rendered":"

GASC launches its largest ever wheat tender: <\/strong>State grain buyer GASC yesterday launched a tender for up to 3.8 mn tons of wheat for import over a seven-month period, marking its largest tender to date, according to what traders told Reuters<\/a>. This volume accounts for nearly a third of the authority\u2019s yearly wheat requirement, Bloomberg<\/a> writes. Bidders are required to offer quantities for at least three months of shipment and must submit their offers by next Monday. <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

The details: <\/strong>GASC is looking to secure monthly shipments starting October and until April on a free-on-board basis. The authority will settle payment through 270-day letters of credit.<\/p>\n

Traders are baffled:<\/strong> \u201cThis is a very strange tender,\u201d one trader told Reuters, adding that traders it would be \u201cvery difficult to submit a freight offer six or seven months in advance.\u201d Another added that it is unlikely that GASC ends up securing shipments for the entire 3.8 mn tons it is after. <\/p>\n

Our way of capitalizing on falling commodity prices:<\/strong> \u201cThere is a decrease in the global market and global commodity prices \u2026 It is a chance to buy what we need of these goods due to the current situation in the global market,\u201d Finance Minister Ahmed Kouchouk said yesterday. <\/p>\n","protected":false},"excerpt":{"rendered":"

GASC launched a tender for up to 3.8 mn tons of wheat<\/p>\n","protected":false},"author":1,"featured_media":638016,"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":[317,72,550,132,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-638015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities","tag-commodities","tag-enterpriseam","tag-gasc","tag-trade","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"21340043-4153-493c-b299-be6b09b9e480","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/534.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt launches its biggest wheat tender ever","related_issue":[638005],"teaser":"GASC launched a tender for up to 3.8 mn tons of wheat","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.1048d6d4-d75d-4e1c-9715-364a9412e468.mp3"},"yoast_head":"\nOur biggest wheat tender to date - 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\/2024\/08\/07\/our-biggest-wheat-tender-to-date\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Our biggest wheat tender to date\" \/>\n<meta property=\"og:description\" content=\"GASC launched a tender for up to 3.8 mn tons of wheat\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/07\/our-biggest-wheat-tender-to-date\/\" \/>\n<meta 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is looking into importing wheat from Turkey","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\/2024\/8\/1707.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":646924,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/gasc-purchases-3-1-mn-tons-of-wheat-to-be-supplied-monthly-through-april\/","url_meta":{"origin":638015,"position":1},"title":"GASC purchases 3.1 mn tons of wheat to be supplied monthly through April","author":"enterpriseam admin","date":"3 October 2024","format":false,"excerpt":"The purchase is one of GASC\u2019s largest","rel":"","context":"In 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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":649492,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/01\/gasc-launches-wheat-tender-on-tuesday\/","url_meta":{"origin":638015,"position":3},"title":"GASC launches wheat tender on Tuesday","author":"enterpriseam admin","date":"1 March 2017","format":false,"excerpt":"GASC launched a wheat tender on Tuesday for 60K tonnes of wheat for delivery on 1-10 April, Reuters reports.","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-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":547655,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/03\/gasc-makes-huge-wheat-buy-world-bank-approves-usd-500-mn-loan\/","url_meta":{"origin":638015,"position":4},"title":"GASC makes huge wheat buy + World Bank approves USD 500 mn loan","author":"enterpriseam admin","date":"3 July 2022","format":false,"excerpt":"State makes its biggest wheat buy in a decade as futures dip: State grain buyer GASC last week purchased 815k tons of wheat for shipment in August, September and October, state news agency MENA reports, citing the authority. The purchase of French, Romanian, Russian, and Bulgarian wheat in last Wednesday\u2019s\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\/7\/78.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547784,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/egypt-buys-444k-tons-of-wheat-directly-from-traders\/","url_meta":{"origin":638015,"position":5},"title":"Egypt buys 444k tons of wheat directly from traders","author":"enterpriseam admin","date":"6 July 2022","format":false,"excerpt":"Another big wheat buy: Egypt purchased 444k tons of Russian, French and Romanian wheat directly from traders yesterday, traders said. State grains buyer GASC paid USD 416 a ton on a cost and freight basis (CFR), they said.The breakdown: GASC reportedly bought 214k tons of Russian wheat, 170k tons of\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\/7\/139.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/638015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=638015"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/638015\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/638005"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/638016"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=638015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=638015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=638015"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=638015"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=638015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}