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Iran likely to have bought 3m tonnes of wheat
Iran is likely to have bought up to three million tonnes of milling wheat out of over five million it needed to import in the marketing year to March 2009, European traders said on Friday.
- Reuters
- Published: 23:41 July 25, 2008
Paris: Iran is likely to have bought up to three million tonnes of milling wheat out of over five million it needed to import in the marketing year to March 2009, European traders said on Friday.
Traders said they believed countries of origin were Canada for up to 1.5 million tonnes, the US for between 300,000 and 500,000 tonnes, Russia for another 500,000 tonnes and the European Union - optional French, German, Swedish and other Baltics - for up to 450,000 tonnes, they said.
The purchases allowed Iran to cover its needs until October, traders added.
Tehran said earlier this month it would need to import more than 5 million tonnes of wheat up to March after cold weather, followed by a drought, slashed its own crops.
In mid-June, US traders had already reported that Iran had bought between 600,000 and one million tonnes of Canadian wheat at $333 per tonne free-on-board (FOB).
European traders, who said the latest sales were concluded several weeks ago, declined to give price ranges for the one million tonnes of West and Eastern European wheat.
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