HAMBURG: Saudi Arabia’s main state wheat buying agency the Saudi Grains Organization (SAGO) has purchased an estimated 689,000 tonnes of wheat in an international tender, SAGO said, confirming earlier reports from traders.
The tender closed on Friday with the agency seeking wheat with 12.5% protein content. The wheat was bought at an average price of $365.14 a tonne c&f, SAGO said. 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 purchase comprises shipments to the ports of Jeddah, Dammam and Yanbu, SAGO said.
SAGO said these purchases were made in dollars a tonne c&f with arrival period in 2022 in brackets: Jeddah Port: - 63,000 tonnes from Louis Dreyfus at $359.90 C&F (July 1 - 10) - 63,000 tonnes from Holbud Limited at $360.69 C&F (July 20 - 30) - 60,000 tonnes from Olam at $364.50 C&F (July 20 - 30) Yanbu Port: - 63,000 tonnes from Louis Dreyfus at $364.90 C&F (July 1 - 10) - 63,000 tonnes from Louis Dreyfus at $366.90 C&F (July 1 - 10) - 60,000 tonnes from Olam at $359.50 C&F (July 20 - 30) - 63,000 tonnes from Holbud Limited at $362.40 C&F (July 20 - 30) - 65,000 tonnes from Cargill at $367.64 C&F (July 20 - 30) Dammam Port: - 63,000 tonnes from Louis Dreyfus at $366.90 C&F (July 20 - 30) - 63,000 tonnes from Louis Dreyfus at $368.90 C&F (July 20 - 30) - 63,000 tonnes from Louis Dreyfus at $373.90 C&F (July 20 - 30)
In its last reported wheat tender on Nov. 1, SAGO bought some 1.268 million tonnes at an average price of $377.54 per tonne.
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