Saudi Arabia's state grains buyer SAGO on Monday said it had bought 1,009,000 tonnes of wheat in an international tender for April-June shipment next year at an average price of $382.56 a tonne.
The tender had sought hard wheat with 12.5 percent protein content for arrival at Saudi Arabian ports between April and June. The tender closed on Friday.
Origins offered were the European Union, Black Sea region, North America, South America, and Australia, with the seller having the option of selecting the origin, SAGO governor Ahmad Al-Fares added in a statement.
SAGO said the following purchases were made on a cost insurance and freight (CIF) basis per tonne, with 2023 arrival periods in brackets:
Jeddah sea port:
- 65,000 tonnes from Bunge at $379.90 CIF (April 10 - 20)
- 65,000 tonnes from ADM Hellas at $385.73 CIF (April 10 - 20)
- 63,000 tonnes from Holbud at $385.85 CIF (April 10 - 20)
- 63,000 tonnes from Holbud at $386.50 CIF (May 10 - 25)
- 65,000 tonnes from Olam at $379.65 CIF (June 10 - 25)
Yanbu sea port:
- 60,000 tonnes from Agricost at $374.25 CIF (April 10 - 20)
- 65,000 tonnes from Cargill at $380.60 CIF (April 10 - 20)
- 63,000 tonnes from Holbud at $385.90 CIF (April 10 - 20)
- 60,000 tonnes from Agricost at $375.25 CIF (May 10 - 25)
- 65,000 tonnes from Cargill at $384.10 CIF (May 10 - 25)
- 65,000 tonnes from Olam at $383.65 CIF (June 10 - 25)
Dammam sea port:
- 60,000 tonnes from Agricost at $381.00 CIF (April 10 - 20)
- 65,000 tonnes from Cargill at $382.62 CIF (April 10 - 20)
- 65,000 tonnes from Olam at $385.65 CIF (April 10 - 20)
- 65,000 tonnes from Cargill at $378.27 CIF (May 10 - 25)
Jizan sea port:
- 55,000 tonnes from Viterra at $392.59 CIF (June 10 - 25)
In its last reported tender on Oct. 24, SAGO bought 566,000 tonnes of hard milling wheat for arrival in March and April 2023.
Source: nasdaq.com
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