08.
08.18
08:28

Saudi Arabia stops wheat and barley purchases from Canada

The largest Saudi grain merchant (SAGO) has stated that they will no longer buy Canadian wheat and barley in international tenders. A diplomatic dispute escalates.
Traders said they received an official note from the SAGO announcing this decision.
Already on Sunday, Saudi Arabia expelled Canadian Ambassador Dennis Horak and frozen a new trade and investment agreement between the two countries. The occasion was a tweet by Canadian Foreign Minister Chrystia Freeland on Thursday. It said that Canada was seriously concerned about new arrests of civil society activists and women's rights in Saudi Arabia, including Samar Badawi. "We urge the Saudi Arabian authorities to release her and all other peaceful human rights activists."
A European grain trader said that the decision to stop buying Canadian grain was due to diplomatic upheavals.
Winnipeg-based corn dealer G3 has meanwhile announced that it wants to continue its business with Saudi Arabia, Bunge is the US grain trader.To date, SAGO has formulated its tenders in such a way that international tenders from Europe, North America, South America or Australia can be supplied.
On 16 July, SAGO had purchased 625,000 tonnes of wheat and Canada would have been one of the possible suppliers. Last year, Canada or the US had delivered only a small amount of grain to Saudi Arabia because the freight costs were too high.
This year, Canada has several options to sell its barley. However, with the drought and drought in Europe and parts of Russia and Australia, Canada would have a chance to win more Saudi contracts.

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