Saudi Arabia buys wheat in tender

DUBAI: Saudi Arabia bought 1,353,000 metric tons of wheat in a tender, the General Food Security Authority (GFSA) said on Monday.

The shipments are due for arrival in Saudi Arabia between February and May 2024, GFSA said.

The tender had sought hard wheat with 12.5% protein content and closed on Friday. Origins offered were the European Union, Black Sea region, North America, South America and Australia, with the seller having the option of selecting the origin supplied, GFSA Governor Ahmad Al-Fares said in a statement.

European traders said they expected Russian wheat to account for a substantial part of the purchase. “Russian wheat can be easily supplied at the prices Saudi Arabia paid,” one European trader said. “But as the purchase is optional origin, we will not know for sure until the ships are loaded.”