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Prices have tumbled since then, with GASC paying almost $20 a ton less in its latest tender at the end of August, data compiled by Bloomberg show.
GASC set a tender on Tuesday to buy an unspecified amount of wheat from global suppliers for April 10-20 shipment.
In developing this new direction for RoAPs, and preparing drafts for submission to the P&L Committee, two industrial members of the GASC, de Paula and Rees, again seem to have played an important role.
There is a good local supply, both on the private side and on the GASC side.
GASC announced earlier this year that it had included the UK on its list of potential suppliers for the first time.
GASC Vice Chairperson Ahmed Youssef said that all imported wheat shipments are inspected at the ports of origin by international inspection companies.
Nomani Nomani, vice chairman of the General Authority for Supply Commodities, said GASC had funds to finance wheat purchases from international tenders, dismissing earlier trader speculation that financing had been cut off amid economic problems following a revolt that overthrew president Hosni Mubarak.
In the fiscal year ended June 30, GASC purchased 5.
Nomani Nomani, vice chairman of the GASC, said about 60,000 tonnes of Russian wheat from Venus were bought at $165/tonne and 60,000 tonnes of Russian wheat from Aston at $165/tonne.
In July, GASC signed agreements to buy 61,000 tons of cooking oil as part of the government's efforts to meet the needs of strategic commodities.
Tension between GASC and suppliers escalated after the authority rejected a 63,000 tonne import shipment of wheat from France in January, which contained a 0.
Some Egyptian traders have offered rice to GASC for as little as 1 Egyptian pound per tonne, a tiny fraction of the export price, in a bid to secure export licences .