Tridge summary
According to market operators, Iran's state agency The Government Trading Corporation (GTC) acquired a large batch of Russian-origin milling wheat in an international tender in August.
According to traders, the Iranian purchase turned out to be much larger than initially expected, but the exact volume is still a matter of debate. Current market estimates of the purchase volume range from 500 thousand metric tons to 1 million tons and even up to 2.2 million tons.
Estimated prices ranged from 270 to 290 euros/ton (from 318 to 341.56 USD/ton), including cost and freight C&F.
Traders also expected the purchase to be carried out predominantly from Russia, with the bulk of sales being handled by Russian state trading houses.
"Iran was counting on deliveries in September-December. But September is almost over, and I don't see more than two vessels in the queue to Russia for Iran, so this probably speaks against the upper limit of the forecasts, however, 1 million tons is still..."
According to traders, the Iranian purchase turned out to be much larger than initially expected, but the exact volume is still a matter of debate. Current market estimates of the purchase volume range from 500 thousand metric tons to 1 million tons and even up to 2.2 million tons.
Estimated prices ranged from 270 to 290 euros/ton (from 318 to 341.56 USD/ton), including cost and freight C&F.
Traders also expected the purchase to be carried out predominantly from Russia, with the bulk of sales being handled by Russian state trading houses.
"Iran was counting on deliveries in September-December. But September is almost over, and I don't see more than two vessels in the queue to Russia for Iran, so this probably speaks against the upper limit of the forecasts, however, 1 million tons is still..."
Original content
According to market operators, Iran's state agency The Government Trading Corporation (GTC) acquired a large batch of Russian-origin milling wheat in an international tender in August. According to traders, the Iranian purchase turned out to be much larger than initially expected, but the exact volume is still a matter of debate. Current market estimates of the purchase volume range from 500 thousand metric tons to 1 million tons and even up to 2.2 million tons. Estimated prices ranged from 270 to 290 euros/ton (from 318 to 341.56 USD/ton), including cost and freight C&F. Traders also expected the purchase to be carried out predominantly from Russia, with the bulk of sales to be handled by Russian state trading houses. "Iran was counting on deliveries in ...
Source: Oilworld
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