HAMBURG: Iraq’s state grains board has purchased about 100,000 tonnes of wheat expected to be sourced from Germany in a tender, which closed in March, European traders said on Sunday.
The tender had originally closed on March 17 but the offer validity had been extended.
The wheat was purchased at an estimated $570 a tonne c&f liner out with the seller believed to be a local Iraqi trading house, they said. Australian wheat had been offered at the lowest price in the tender, traders said earlier.
Iraq’s requirement for a rapid shipment period of only 30 days after contract award was regarded as too difficult to achieve in the current volatile grains market by some traders.
BAGHDAD: Iraq plans to buy wheat through a direct purchase this week rather than via tender, a trade ministry spokesman said.
Ministry spokesperson Mohammed Hanoon added that Iraq aims to have sufficient strategic wheat reserves for six months of consumption, equating to 2.5 million tonnes.
On March 22 the Iraqi agriculture minister said the country’s wheat stockpile did not exceed three months of consumption.
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