Saudi Arabia buys 625,000 tonnes of wheat in tender
The wheat was purchased at an average price of $248.16 a tonne
Gulf Business. Monday 04 March 2019
Saudi Arabia’s state grain buyer SAGO said on Monday it had bought 625,000 tonnes of wheat in an international tender.
The wheat was purchased at an average price of $248.16 a tonne and is for arrival periods between April to June, SAGO said.
The wheat will be shipped in 10 consignments distributed to three ports with 320,000 tonnes arriving at Jeddah, 250,000 at Dammam and 55,000 at Jazan, Ahmad al-Fares, SAGO governor said in a statement.
The offered origins were from the European Union, North and South America, excluding Canada, and Australia.
SAGO gave the following breakdown of the purchase, with prices in dollars per tonne on a cost and freight basis and arrival periods between brackets:
-65,000 tonnes from Cargill at $243.67 (Apr. 20-30)
-65,000 tonnes from ADM Hellas at $243.12 (May 10-20)
-60,000 tonnes from Olam at $242.19 (May 20-30)
-65,000 tonnes from ADM Hellas at $245.99(June 1-10)
-65,000 tonnes from Cofco at $248.13 (June 20-30)
-65,000 tonnes from Cargill at $251.42 (April 20-30)
-65,000 tonnes from ADM Hellas at $251.62 (May 10-20)
-60,000 tonnes from Louis Dreyfus at $250.57 (June 1-10)
-60,000 tonnes from Louis Dreyfus at $251.68 (June 20-30
– 55,000 tonnes from Cargill at $254.11 (June 1-10)