Saudi Arabia overbuys at barley tender, Glencore supplies the bulk

Saudi Arabia's state grain buyer bought more barley than initially tendered for, as it bought 1.08 million mt of feed barley at $198.81/mt CIF, according to an official notice received on Monday.

SAGO initially tendered for 960,000 mt of feed barley for August-September shipment, but purchased two additional cargoes for a total of 18 consignments, with Glencore selling the lion's share.

The company sold 960,000 mt, including 720,000 mt for delivery into Red Sea ports and another 240,000 mt to the Arabian Gulf.

The remaining two cargoes were sold by Solaris and Lecureur, for September 1-15 arrival to Red Sea ports and August 15-30 into the Gulf respectively.

The tender invited sellers to offer cargoes from Australia, the Black Sea, the EU, South America, and the US, while Canada is still excluded as an origin due to a long-running diplomatic dispute between Riyadh and Ottawa.

At its last tender, which closed on April 10, SAGO took 600,000 mt of feed barley for July-August delivery at an average price of $198.63/mt CIF.

More details of the current results and previous Saudi Arabia purchases can be found on the Agricensus Tender Dashboard.

UPDATE: Corrects first paragraph.