GASC buys less than 10% of wheat target in major tender

Updated 8/13/2024 7:18:00 AM
GASC buys less than 10% of wheat target in major tender

Arab Finance: The General Authority for Supply Commodities (GASC) has purchased less than a tenth of the wheat it had targeted in a major tender, underscoring the difficulties in obtaining substantial supplies months in advance, Bloomberg reported.

GASC procured 280,000 tons of Ukrainian and Bulgarian wheat set for delivery in October and November in a tender that closed on August 12th.

The authority was seeking to buy up to 3.8 million tons of wheat for delivery ranging from October to April.

However, the authority only purchased five shipments for delivery in October and November at a cost between $259.24 and $269.25 per ton, including freight.

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