Platts launches new wheat price benchmark for Egypt

Platts, part of S&P Global, has launched a new daily price assessment for milling wheat delivered to Egypt on a CIF basis, effective June 1. The new benchmark is designed to better reflect trading conditions in the Eastern Mediterranean, where CIF contracts are the dominant format for wheat imports.

The assessment covers origin-free soft wheat with 12.5% protein content. It is based on delivery to any safe Mediterranean port in Egypt at the buyer’s option, with a standard cargo size of 30,000 metric tons and a 10% operational tolerance.

Under the specifications, the wheat must meet a range of quality requirements, including a minimum test weight of 77 kg/hl, maximum moisture content of 14%, minimum wet gluten content of 25%, and a Hagberg Falling Number of at least 250 seconds. Limits are also set for bug damage and foreign material.

The assessment reflects cargoes scheduled for shipment 28–42 days forward from the publication date. Prices will be determined using reported trades, bids, offers, and other relevant market information collected throughout the trading day.

According to Platts, the new benchmark will improve price transparency in one of the world’s largest wheat-importing markets. The assessment will complement existing grain market benchmarks and provide an additional reference point for traders, exporters, and processors operating across the Middle East and North Africa.

Tags: Egypt, prices, wheat