Turkey gets offers in tender for 500,000 tonnes wheat
The lowest price in the first round of offers in the tender from Turkey’s state grain board TMO to purchase around 500,000 tonnes of red milling wheat on Tuesday was believed to be $240.49 a tonne c&f, traders said in initial assessments.
The offer was believed to have been made for about 60,000 tonnes for shipment to the port of Derince, they said.
No purchase has yet been made and talks continue, traders said. The TMO traditionally goes into several rounds of negotiations in its tenders seeking lower prices than initial offers.
The wheat is sought in a series of consignments of between 25,000 tonnes and 30,000 tonnes for unloading in the Turkish ports of Derince, Iskenderun, Mersin, Izmir, Band?rma, Tekirdag and Samsun.
The lowest price offered for shipment to Iskenderun was said to be $243.35 a tonne c&f, the lowest to Mersin $244.35 a tonne c&f, to Izmir $248.00 a tonne c&f, to Band?rma $246.79 a tonne c&f, to Tekirdag $244.65 a tonne c&f and to Samsun $251.29 a tonne c&f, traders said.
Offers are sought for wheat with a minimum 12.5% protein content. The TMO reserves the right to buy up to 5% more or less than the tender volume at its own discretion, traders said.
The tenders continue an active period of grain importing by Turkey to cool local prices and support the country’s large flour export programme.
Source: Reuters (Reporting by Michael Hogan, editing by Louise Heavens)