Saudi Arabia issues buy tender for about 360,000 tonnes wheat

HAMBURG: Saudi Arabia's main wheat-buying agency, the Saudi Grains Organization (SAGO), on Thursday issued an international tender to purchase about 360,000 tonnes of wheat, European traders said.

The tender deadline is believed to be Friday July 9 and results are expected on Monday July 12, traders said.

Hard wheat with 12.5 percent protein content and soft wheat with 11% protein is sought in a series of 60,000 tonne consignments.

Euronext wheat and rapeseed slide

Of the hard wheat, one consignment of 60,000 tonnes is sought for arrival at the port of Jeddah over Oct. 10-20, 120,000 tonnes is sought for arrival in Yanbu between Oct. 1 and Oct. 30 while 120,000 tonnes is sought for arrival in Dammam between Oct. 1 and Oct. 30.

The soft wheat is sought in a single 60,000 tonne consignment for arrival in Jeddah between Oct. 20 and Oct. 30.

SAGO reserves the right to buy 10% more or less than the tender volumes, traders said.

In its last reported wheat tender on May 31, SAGO bought 562,000 tonnes.