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Sun 20 Jun 2010 07:26 PM

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Saudi buys near 1m tonnes of Canadian, German wheat

GSFMO said that 10 cargoes would be shipped to Jeddah and 8 to Dammam.

Saudi buys near 1m tonnes of Canadian, German wheat
WHEAT BOUGHT: The Saudi state grains authority has bought 990,000 tones of wheat from Canada and Germany. (Getty Images)

The Saudi state grains authority has bought 990,000 tonnes of wheat of Canadian and German origins to be delivered as of October in one of the largest grain tenders issued this year.

The official SPA news agency quoted on Sunday the Grain Silos and Flour Mills Organization (GSFMO) as saying that 10 cargoes would be shipped to the Red Sea port city of Jeddah and eight to the Eastern port city of Dammam.

It did not elaborate on the price nor on the quantities purchased per origin.

European traders said on Wednesday that GSFMO was seeking high quality wheat for shipment spread over the October 2010-April 2011 period.

The traders said high quality wheat with 12.5 and 14 percent protein content was sought.

Saudi Arabia's previous tender for 550,000 tonnes was in April and was purchased at $245.1 per tonne for 330,000 tonnes with a 14 percent protein content and $234.3 per tonne for 220,000 tonnes with a 12.5-percent protein content.

The desert country has a rising import requirement after deciding to cut domestic wheat cultivation to save water.

Saudi Arabia will import about 2 million tonnes of wheat this year, unchanged from the previous year, the country's Agriculture Minister Fahad Balghunaim said on Tuesday.

In 2008, the desert kingdom abandoned a 30 year wheat cultivation plan that had helped it cover its domestic needs to save water resources. (Reuters)

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