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Markets

Saudi Arabia's SAGO agrees to buy 562,000 tonnes of wheat

  • The tender for up to 720,000 tonnes of hard wheat with 12.5 percent protein content had closed on Friday.
31 May 2021

DUBAI: Saudi Arabia's state grain organisation (SAGO) has agreed to buy 562,000 tonnes of wheat for delivery between August and September at $299.55 average price per tonne, it said on Monday.

The tender for up to 720,000 tonnes of hard wheat with 12.5 percent protein content had 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, SAGO governor Ahmad Al-Fares said in a statement.

The following purchases were made in dollars per tonne c&f with 2021 arrival period in brackets, SAGO said.

Jeddah port

65,000 tonnes from Agrorodeo at $300.58 C&F (Aug. 10-20)

60,000 tonnes from Holbud Limited at $296.97 C&F (Sept. 1-10)

60,000 tonnes from Olam at $292.50 C&F (Sept. 20-30)

60,000 tonnes from Holbud Limited at $295.00 C&F (Sept. 20-30) Reuters