Iraq buys 100,000 tonnes U.S. and Australian wheat

26.03.2018

Iraq's state grains board purchased a total of about 100,000 tonnes of hard wheat in a tender which closed last week, European traders said on Monday.

Some 50,000 tonnes was to be sourced from the United States and 50,000 tonnes from Australia.

The U.S. wheat was said to have been bought at $332.17 a tonne c&f free out and the Australian wheat at $309.95 a tonne c&f free out.

The tender had sought wheat sourced only from the United States, Canadian or Australia.

No offers were reported for Canadian wheat. Four trading companies participated in the tender, a modest number compared to previous years.

Iraq's trade ministry has struggled to import grain in the past year after introducing new payment and quality terms that kept traders away from its international tenders.

Volumes in Iraq's wheat tenders are nominal and the country frequently buys more than it tenders for. Originally 50,000 tonnes had been sought.

Iraq is expected to require wheat imports in the coming months despite an improvement in its harvest, Iraq's new grain board chief said on March 13.

The trade ministry will continue with its recent combination of purchasing wheat though international tenders and direct deals, he said.


zawya.com

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