16.
12.21
11:25

Iran's GTC bought about 500,000 tons of wheat this week

The Iranian government agency Government Trading Corporation (GTC) is said to have bought around 500,000 tons of milling wheat in a tender closed on Wednesday, European traders announced today.
It is believed to have been bought in eight shipments of around 60,000 tons to be shipped to Iranian ports in the Gulf of the Middle East.
The wheat will be delivered in January and February 2022.
As possible countries of origin of the purchased wheat Russia, Germany and the Baltic Sea region were suspected, said traders.
The tender was the amount of 180,000 tons, including some for transport across the Caspian Sea and for land transport by rail. The quantities in Iran's tenders are nominal and the country regularly purchases more than the tonnage originally sought.
A small amount was also believed to have been purchased for shipping across the Caspian Sea. The dealers were not aware of the result of the overland transport tender.
"It's a big buy, but Iran needs a lot of wheat," said a European trader.
Iran has around eight millionImporting tons of wheat after its crops were damaged by the worst drought in 50 years this summer, Reuters reported in October.
But Western sanctions against Iran continue to make payments difficult, traders said.
Iran announced on November 19 that it had imported four million tons of wheat since the end of April.
Source
Hansa Terminhandel GmbH
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