Iran purchased about 180,000 T corn this week

04.05.2018

Two consignments of together 120,000 tonnes are likely to be sourced from Brazil and one of about 60,000 tonnes from Ukraine

Iranian state-owned animal feed importer SLAL bought about 180,000 tonnes of corn earlier this week, European traders said on Thursday.

Two consignments of together 120,000 tonnes are likely to be sourced from Brazil and one of about 60,000 tonnes from Ukraine, they said.

SLAL has recently relaxed previous strict requirements for performance bonds and other requirements which made large purchases possible in past weeks, traders said.

Traders said on April 27 that SLAL had purchased about 200,000 tonnes of corn, 130,000 tonnes of feed barley and about 130,000 tonnes of soymeal, following several months of low purchasing.

The latest corn purchase was made at around 203 euros ($242.80) a tonne c&f with one consignment for shipment from Ukraine in May and two from Brazil in August.

"The new purchasing shows that business is returning to normal on a technical level but political tension between Iran and the United States continues," one trader said. "The high risk means that some major trading houses are still regarding Iranian business as too risky."


Zawya.com

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