Egypt Wheat Tender Shows Risks as Traders Charge Hefty Premium
- Egypt got five offers in tender Friday, from usual 10 to 20
- Traders charging Egypt second-biggest premium for the season
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Traders willing to sell wheat to Egypt are still charging the world’s largest importer a hefty premium, highlighting the risks of offering grain after a French cargo was rejected.
Cargill Inc. made the lowest offer in a tender Friday, excluding freight costs, according to two traders familiar with the process, who asked not to be identified because they’re not allowed to speak to the media. Still, the price to supply French wheat was $11.29 a metric ton more expensive than grain for loading at the port of Rouen. That’s the second-biggest premium Egypt has been asked to pay since the season started in July.