Saudi Arabia buys over 900 thsd tons of wheat

UkrAgroConsult

Saudi Arabia has purchased 907,000 tons of milling wheat at an average price of $260.91 per ton on a C&F basis, with deliveries scheduled between April and May, the General Food Security Authority said in a statement.

Shipments will be distributed among four ports — Jeddah, Yanbu, Dammam and Jazan. The tender attracted major international grain traders, including Solaris, Olam, Ameropa, Cargill, Louis Dreyfus, Soufflet Negoce and Aston.

Deliveries to Jeddah port were contracted at prices ranging from $258.50 to $262.06 per ton, with shipments planned for April and May. Yanbu port will receive the largest volume, totaling more than 425,000 tons, at prices between $258.97 and $261.83 per ton.

Supplies to Dammam include 127,000 tons of wheat priced at $259.30 and $264.84 per ton, while 55,000 tons will be shipped to Jazan at a price of $262.06 per ton with delivery in early April.

The Black Sea region is expected to be the main supplier. The quality of the new Argentine wheat crop was deemed insufficient to cover the large volumes of high-protein wheat purchased by Saudi Arabia.

Earlier, on January 15, Saudi Arabia had announced a tender seeking 595,000 tons of wheat, highlighting the country’s continued active import demand for grain.

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Tags: tender, Saudi Arabia, wheat