Thursday, July 30, 2015

Recent developments in international wheat trade

    Iran has imposed import duties on wheat, as Egypt received huge offers at a recent wheat tender.
    From WATTAgNet:
    Iran has imposed import duties on wheat and barley, hurting chances for more trade in the aftermath of the country’s historic nuclear deal.
    The wheat duty is IRR1,500 per kilo (US$50 per ton). Traders say that amount would render wheat imports commercially unfeasible. The new wheat duty has been imposed for the next year, and the barley duty until September 22, 2015.
    The import duty applies to all private sector importers, traders and mills. It does not apply to the state import agencies Government Trading Corp. of Iran (GTC) or the State Livestock Affairs Logistic Co. (SLAL).
    Traders said the move was seen as an effort to protect Iranian farmers from cheap imports an prevent imported grain from being resold to the government at higher prices.
    Huge wheat tender in Egypt
    The world’s biggest wheat importer, Egypt, received offers for 22 cargos at a recent tender, including some offered at prices not seen in years.
    At its fourth wheat tender of 2015-16, Egypt’s Gasc grain authority purchased 175,000 tons of wheat, all from Russia, for an average price of $205.37 per ton including freight.
    Gasc was offered 1.3 million tons of wheat, an unusually large amount. Gasc’s previous tender attracted less than 900,000 tons in offers. Its best tenders in July 2014 received 950,000 tons.

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