Saudi Arabia buys 1 million mt of barley at $216.73/mt CFR

Saudi Arabia has secured the purchase of 1.002 million mt of feed barley at tender for an average price of $216.73/mt CFR for February-March shipment, market sources said Monday.

The price ranged from $212.42-$220.61/mt CFR, according to market sources, with a total of 624,000 mt heading to Red Sea ports at an average of $215.87/mt CFR and the balance of 378,000 mt heading to Persian Gulf ports at an average of $218.14/mt CFR.

At its previous tender, which closed in late November, SAGO purchased 723,000 mt of barley for January-February shipment paying an average price of $215.11/mt CFR.

UK-headquartered Holbud sold 14 of the 16 total cargoes, with Australia’s Grain Corp selling the remaining two.

Origins are said to include Australia, North and South America, the EU and the Black Sea.

Market sources told Agricensus that Argentinian barley is now the most competitive origin at approximately $178/mt FOB Up River.

Russian origin barley is approximately $191/mt FOB Novorossiysk, German-origin is $194/mt FOB Hamburg, and Australian-origin at $220/mt FOB Western Australia.