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Egypt's state grain buyer GASC cut sieving costs to $2 per tonne from $3 and lowered demurrage charges to $10,000 per day for up to 10 days from $12,000 per day for up to 12 days. The changes came ahead of an international wheat purchase tender.
Suppliers had complained about high demurrage and lengthy inspections.
Lower costs make Egyptian tenders more attractive to suppliers, which can support participation and wheat demand. The impact on prices is small.
english.ahram.org.egJun 12, 2018After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
