Saudi Arabia purchased 800,000 tons of wheat at a tender at a price 10-15 $/t higher than in January.

The General Food Security Authority of Saudi Arabia (GFSA) last week held a tender for the purchase of 655,000 tons of hard wheat flour of any origin with a protein content of 12.5%, on which it acquired about 794,000 tons at a significantly higher price than in January. According to traders, the wheat will be supplied mainly from the Russian Federation and Romania, although wheat from EU countries, the Black Sea region, North and South America, and Australia was also offered at the tender. The prices of the purchased wheat depended on the delivery dates: Recall that at the previous tender in January, Saudi Arabia purchased about 907,000 tons of wheat at an average price of $260.91/ton C&F with delivery from April to May, and last year it bought a large batch of wheat at an average price of $276.37/ton C&F. The price of the new crop wheat purchase turned out to be $5/ton lower than that of the old crop wheat with delivery in June because the Russian Federation plans to harvest a large crop, and traders have already started actively selling it.