Turkey gets offers in 200,000 tonnes wheat tenders

• The offer was believed to have been made by trading house Hakan for about 20,000 tonnes, they said.
• The TMO traditionally goes into several rounds of negotiations in its tenders, seeking lower prices than initial offers.

HAMBURG: The lowest price in the first round of offers in tenders from Turkey's state grain board TMO to purchase 200,000 tonnes of milling wheat on Friday was $238.80 a tonne c&f, traders said.

The offer was believed to have been made by trading house Hakan for about 20,000 tonnes, they said.

No purchase has yet been made and talks continue, traders said. Results are expected later on Friday.

The TMO traditionally goes into several rounds of negotiations in its tenders, seeking lower prices than initial offers.

The TMO has issued a series of individual tenders of between 20,000 and 30,000 tonnes, seeking red milling wheat with a minimum 13.5% protein content for shipment between April 7 and April 27.

Consignments were sought for unloading separately in eight different Turkish ports.

Lowest prices offered for the other tenders included $239.45, $240, $249.65 and $247.35 all per tonne c&f, traders said.

In its last reported wheat tender on March 11, the TMO purchased around 305,000 tonnes at the lowest price of $211.80 a tonne c&f.

Since then wheat prices have risen strongly, partly on expectations of firm demand for food during the coronavirus crisis.