Egypt's state grains buyer has agreed to replace a detained Ukrainian wheat shipment with a new 60,000-tonne cargo, according to two people with knowledge of the matter, following weeks-long negotiations to either free or replace the shipment.
The General Authority for Supply Commodities (GASC) will buy a new cargo of Russian or Ukrainian wheat from the same supplier, Olam, at a price of $361.25 per tonne on a cost and freight basis, one of the people added.
That is the same price that was agreed for the original 60,000 tonne cargo, the person said. The new cargo will be shipped between Sept. 15 and Oct. 15.
