By Dahlia Kholaif

Egypt, the world's top buyer of wheat, chose Ukrainian and Russian offers to purchase 235,000 tons of the grain following a tender on Friday, paying an average of $199.72 a ton, the country's Ministry for Supply Commodities said Sunday.

The General Authority for Supply Commodities, the country's key purchaser of the grain, brought 60,000 tons of Ukrainian wheat from Venues at $199.30, 60,000 tons of Russian grain from Glencore PLC (GLEN.LN) at $200.25, as well as 60,000 tons of Russian Louis Dreyfus crop at $199.44 and a shipment of 55,000 tons from Russian Alegrow at $199.95, according to updates posted on its website.

GASC said that all prices included cost and freight and that the shipments are due to arrive over 10 days, starting Nov. 1.

On Friday, the authority launched its 11th tender in the fiscal year that began in July, welcoming bids from the U.S., Canada, France, Australia, Germany, the U.K., Romania, Russia, Ukraine and Kazakhstan.

The country of more than 90 million people relies on imported wheat to meet a subsidized bread scheme that feeds around 70% of its population. The final purchase has propelled the country's inventory of grain to last until the beginning of March, the Supply Ministry's statement said, citing Minister Khaled Hanafi.

Egypt, which previously relied on intermediates to purchase the grain, has been relying on tenders to procure directly from suppliers in a bid to cut expenses, as the country's foreign-currency reserves run dry amid a stagnant economy.

Write to Dahlia Kholaif at dahlia.kholaif@wsj.com

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(END) Dow Jones Newswires

October 04, 2015 09:36 ET (13:36 GMT)

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