Ukraine Offers Lowest Bid For Iraq Wheat Tender

By Matthew Gayle.

Ukrainian wheat was offered at the lowest price of $326 a tonne c&f free out (ciffo) in a tender from Iraq's state grain board to purchase at least 50,000 tonnes, European traders said on Monday. The offer was for 50,000 tonnes. A separate offer for 50,000 tonnes of Ukrainian wheat was made at $344.12 a tonne ciffo, according to the Business Recorder.

The lowest offers from other countries in dollars a tonne ciffo were Romanian wheat at $348.35, Russian at $355 and Hungarian at $355.38. Australian wheat was offered at $362.50, Canadian at $369.50, US wheat at $394, and German at $376. Australian wheat was available in the largest volume with total offers for 350,000 tonnes made at up to $392.76, followed by 200,000 tonnes from the United States offered at up to $442.42.

The tender sought shipment between November 15 and December 15, 2013, with delivery taking place between December 16, 2013, and January 28, 2014. Iraq is one of the world's largest importers of wheat, much of which goes to supply a national food ration program.

(Source: Business Recorder)