In particular, from February 2, manual GASC has set limits on fees for demurrage (money refund due to the carrier demurrage for the lay days). Under the new terms, vendors will pay simple during the first 12 days $12 thousand per day, whereas previously had to pay for the entire period of inactivity and all charges for late payment. Was also enhanced fee for the sifting of wheat to $3 per ton against earlier price $2.

According to GASC, these changes will allow to involve in tenders on purchase of grain suppliers who have previously avoided it due to the increase of charges for demurrage.

According to traders, the new system fixed rate loan will allow them to more accurately calculate your costs and reduce risks, but, at the same time, may lead to higher bid prices. These changes, according to market participants, has already led to higher offer prices in the latest tender held by the GASC, where the minimum offer price for Russian wheat was $202,7 per ton against $197 two weeks ago.

Another innovation GASC was lowering the minimum protein content from 12% to 11.5% in wheat imports from key supplier countries – Russia, Romania and Ukraine. For French grain and soft wheat from the United States requirements were reduced from 11.5 to 11% for hard American grain – from 12.5 to 12%.

Photo: interfax.ru