HAMBURG: The lowest price offer submitted in the tender from Iraq's state grains board to buy at least 50,000 tonnes of hard wheat was $264.66 a tonne c&f free out for wheat sourced from the United States, European traders said on Tuesday.
No purchase has yet been made in the tender, they said.
The tender closed on June 4 with offers having to remain valid up to June 8, the traders added. Only wheat from the United States, Canada or Australia is sought.
Just three companies participated in the tender, ten or more trading houses have in the past regularly participated in Iraq's wheat tenders.
Dissatisfaction with new tender payment and inspection terms meant trading houses have been unwilling to participate in recent tenders from Iraq.
Traders said major rice and wheat importer Iraq also told them in March it would delay payments for their goods, making payments in instalments because of low oil prices and other financial factors.
A multinational trading house offered a total of 300,000 tonnes of US wheat in the latest tender at between $264.66 and $284.70 a tonne c&f free out, traders said.
One Middle Eastern trading house offered 50,000 tonnes of US wheat at $279.50 a tonne c&f free out. A second Middle Eastern trading house offered 50,000 tonnes of US or Canadian wheat at the much higher price of $415.00 a tonne c&f free out.
Iraq also issued a separate tender on Tuesday to buy at least 30,000 tonnes of rice.
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