Turkey tenders to buy about 300,000 tonnes corn

HAMBURG: Turkey's state grain board TMO has issued a series of international tenders to purchase a total of 300,000 tonnes of corn, European traders said on Friday.

The tenders close on April 24.

The TMO has issued 24 separate tenders each of 12,500 tonnes, traders said. The TMO reserves the right to purchase 20 percent more or less than the tender volumes.

Offers can be submitted in US dollars, Russian roubles or Turkish lira with c&f prices to include shipment to Turkey. This system of permitting rouble offers in recent months aims to generate low Russian offers in Turkey's tenders.

Each tender will be treated as a separate purchase.

Some 200,000 tonnes is sought for shipment between May 13 and June 2. The other 100,000 tonnes is sought for shipment from June 3-23.

Origin is optional. But as with recent TMO tenders, the fast loading requirements in practice give with Black Sea and other European suppliers an advantage.