HAMBURG: Iraq's state grains board bought 50,000 tonnes of wheat to be sourced from the United States and 50,000 tonnes from Australia in an international tender, European traders said on Thursday.
The tender had sought wheat sourced only from the United States or Australia.
The tender closed on Sunday and offers were valid up to Thursday, Aug. 24.
The US wheat was all purchased at $297 a tonne c&f free out and the Australian wheat was bought at $298.77 a tonne free out, the traders said.
Shipment and delivery period is 75 days after the opening of a letter of credit on the purchase. Traders said there was no specific shipment date in the tender.
US wheat had been offered at the lowest price in the tender, European traders said on Monday.
Four mainstream international trading companies participated in the tender, down from the 10 or more trading houses that participated regularly in past tenders.
There has been uncertainty about Iraq's grain buying strategy after the trade ministry said in April it would negotiate more direct contracts for the import of rice and wheat after failures to secure supply via international tenders.
Traders said Iraq also told them in March it would delay payments for wheat and rice, making payments in instalments because of low oil prices and other financial restraints. This was said to have reduced participation in tenders by major grain trading houses.
In its last reported wheat tender on Aug. 7, Iraq's grains board purchased 50,000 tonnes from Australia.
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