Lowest offer in Egypt's GASC tender for Russian wheat

CAIRO: The lowest offer at a tender held on Friday by Egypt's state grain buyer GASC was at $202.70 per tonne free-on-board (FOB) for 60,000 tonnes of Russian wheat, traders said.

The offer was presented by GTCS.

GASC is expected to announce the results of the tender later on Friday.

GASC lowered the protein requirements at its Friday tender, reducing the minimum permissible level for top supplier Russia to 11.5 percent from 12 percent in a move which traders expected would lower prices.