Bread wheat has become cheaper on the international market in Saudi Arabia, with the planned 300,000 tons of high-protein content being purchased.
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The Saudi Arabian Government's General Food Security Authority (GFSA, formerly SAGO) has purchased the planned 300,000 tons of bread wheat with 12.5% protein from countries in the European Union, the Black Sea region, North and South America at an international tender, reported the online publication APK-Inform, citing its sources among market participants. The wheat was bought in 5 lots of 60,000 tons on a C&F basis, with expectations from European traders that the main part will arrive from the Black Sea region, but they do not exclude the possibility of delivery of cheap wheat from the new harvest in Argentina. The undisputed winner of the tender is the company Cargill, which will supply 3 of the lots, including the cheapest one at $257.96 per ton for the port of Yanbu with delivery between March 1 and 15. The second is again for there at $258.88 per ton, but with delivery between April 1 and 15, and the third one for the port of Jeddah at $258.21 per ton with delivery between ...