Iraq's state grains buyer purchased about 30,000 tonnes of rice to be sourced from Argentina in an international tender which closed this week, European traders said on Friday. It was purchased at around $548 a tonne c&f, they said. The tender closed on June 11 with offers having to remain valid to June 15. The seller was said to be Turkish trading house Tiryaki.
The lowest price offer in the tender was $498.20 a tonne c&f free out for rice to be sourced from Thailand, European traders said on Monday. Iraq has in past tenders also purchased at prices above the lowest offer. There was also trade talk that Iraq this week also made a private, non-tender purchase of Indian-origin rice at $431 a tonne c&f.
Traders said six trading companies took part in this week's tender, lower than usual but still a reasonable number. Iraq has been struggling to import grain for its food subsidy programme after introducing new payment and quality terms which left trading houses unwilling to participate in its international tenders. Iraq told suppliers earlier this year it would pay for its grain in instalments. Traders said they were informed by Iraq's Grain Board that low oil prices and other financial factors were forcing the country to delay payments.
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