AIRLINK 74.70 Increased By ▲ 0.45 (0.61%)
BOP 5.05 No Change ▼ 0.00 (0%)
CNERGY 4.42 No Change ▼ 0.00 (0%)
DFML 37.65 Increased By ▲ 1.81 (5.05%)
DGKC 90.85 Increased By ▲ 2.85 (3.24%)
FCCL 22.58 Increased By ▲ 0.38 (1.71%)
FFBL 32.80 Increased By ▲ 0.08 (0.24%)
FFL 9.75 Decreased By ▼ -0.04 (-0.41%)
GGL 10.92 Increased By ▲ 0.12 (1.11%)
HBL 115.91 Increased By ▲ 0.01 (0.01%)
HUBC 136.29 Increased By ▲ 0.45 (0.33%)
HUMNL 10.03 Increased By ▲ 0.19 (1.93%)
KEL 4.61 No Change ▼ 0.00 (0%)
KOSM 4.80 Increased By ▲ 0.14 (3%)
MLCF 40.48 Increased By ▲ 0.60 (1.5%)
OGDC 137.70 Decreased By ▼ -0.20 (-0.15%)
PAEL 26.60 Increased By ▲ 0.17 (0.64%)
PIAA 25.73 Decreased By ▼ -0.55 (-2.09%)
PIBTL 6.77 Increased By ▲ 0.01 (0.15%)
PPL 123.12 Increased By ▲ 0.22 (0.18%)
PRL 26.85 Increased By ▲ 0.16 (0.6%)
PTC 13.99 Decreased By ▼ -0.01 (-0.07%)
SEARL 59.00 Increased By ▲ 0.30 (0.51%)
SNGP 69.99 Decreased By ▼ -0.41 (-0.58%)
SSGC 10.40 Increased By ▲ 0.04 (0.39%)
TELE 8.61 Increased By ▲ 0.05 (0.58%)
TPLP 11.19 Decreased By ▼ -0.19 (-1.67%)
TRG 64.41 Increased By ▲ 0.18 (0.28%)
UNITY 26.45 Increased By ▲ 0.40 (1.54%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 7,849 Increased By 10.4 (0.13%)
BR30 25,545 Increased By 85 (0.33%)
KSE100 75,101 Increased By 170.2 (0.23%)
KSE30 24,152 Increased By 6.4 (0.03%)
Markets

Iraq yet to approve Russian wheat imports

BAGHDAD: Major Middle East grain buyer Iraq does not yet consider Russian wheat acceptable for imports, the Iraqi tr
Published February 20, 2019

BAGHDAD: Major Middle East grain buyer Iraq does not yet consider Russian wheat acceptable for imports, the Iraqi trade minister said on Wednesday, citing quality issues.

Traditionally reliant on the United States as a source for the grain, Iraq is one of the few remaining Middle East markets not dominated by Russian and Black Sea wheat, though it sent a delegation to Russia in December to discuss the possiblity.

"For wheat, the approved origins are still the U.S., Canada and Australia," trade minister Mohammed Hashim al-Aani said.

"There are problems with Russian wheat ... the level of gluten is low."

He added that Russian wheat imports would be approved if specifications improved, particularly if its prices are more attractive than rival origins.

Iraq needs between 4.5 million to 5 million tonnes of wheat a year and imports about 2 million tonnes.

Aani also confirmed that Iraq had purchased 120,000 tonnes of rice of Vietnamese origin outside the international tender process, adding that new buying tenders for wheat and rice would be announced in the next few days.

Traders had told Reuters on Tuesday that the purchase was made through a direct contract with Vietnamese trading house Vinafood1.

Strategic reserves of wheat are enough for three months and rice for two months, Aani said.

"We are on top of things when it comes to reserves."

Iraq's trade ministry oversees the state grain board, which is responsible for imports of wheat and rice for the country's food rationing programme.

Copyright Reuters, 2019
 

Comments

Comments are closed.