Saudi Arabia follows Egypt, tenders for 595k mt of milling wheat

Saudi Arabia's state-run grain import company SAGO has opened a tender to buy 595,000 mt of milling wheat on Thursday, with the move coming just 24 hours after a big wheat purchase made by Egypt's GASC.

SAGO has asked for offers for 12.5% hard milling wheat to be delivered during the February-March period.

The tender is set to close on Friday, but results are not likely to be known until Monday.

At its previous wheat tender on September 5, SAGO booked 780,000 mt of wheat at an average price of $217.80/mt CFR for November-January shipment, after initially tendering for 595,000 mt.

The tender comes just after Egypt GASC booked 405,000 mt of milling wheat in a tender yesterday, with the entity paying almost $9/mt more compared to the previous week.

Also, earlier this week a memorandum was signed between Russia and Saudi Arabia's agricultural ministries which is intended to facilitate greater trade between the two countries.

Details of SAGO’s previous deals are available on the Tenders Dashboard.