HAMBURG: Pakistani importers have recently purchased a further 65,000 tonnes of soybeans expected to be sourced optionally from the United States or Brazil, European traders said on Wednesday.
The deal was in addition to the purchase of 180,000 tonnes of soybeans from the United States or Brazil reported by traders on Monday.
The latest 65,000 tonne purchase was for February 2018 shipment from either the US Gulf or Brazil and was bought at a premium of about $46 to $47 c&f over Chicago soybean futures , they said.
Pakistan has been a heavy buyer of soybeans from North and South America in recent months. Higher import duties on soymeal in Pakistan have fuelled larger imports of unprocessed soybeans.
Pakistan's import duty policy is aimed at stimulating its local oilseed processing industry.
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