Private Iranian buyers have purchased about 80,000 tonnes of wheat to be sourced from Germany and the Black Sea region, European traders said on Wednesday. The purchases comprised 30,000 tonnes to be shipped from Germany in April and 50,000 tonnes to be shipped from the Black Sea region, traders said.
The deals formed part of a series of purchases by private Iranian buyers in the run-up to the Iranian new year holiday period, which lasts from late March to early April, traders said.
High state-guaranteed wheat prices in Iran's domestic market mean mills are turning to wheat imports, especially for production of flour for re-export to other Middle Eastern countries, traders said. One trader estimated Iranian private buyers purchased almost 200,000 tonnes of wheat in the run-up to the Iranian new year holiday.
On March 5, traders said Iranian private buyers had bought about 85,000 tonnes from the European Union and Black Sea region. "Payment is difficult but possible. There are hopes more purchases could be made if Iran reaches an agreement in the nuclear talks which relaxes sanctions," a trader said.
Iran was never barred from buying food under Western sanctions over its disputed nuclear programme, but EU and US financial measures have made trade more difficult in past years by hindering payments and ocean shipping.
The negotiations between Iran and the United States, Russia, China, France, Germany and Britain face an initial deadline for a basic framework agreement of March 31, and a June 30 deadline for a final settlement.
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