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Saudi Arabia buys 625,000 tons of wheat from the US, Europe, and Australia

Saudi Arabia buys 625,000 tons of wheat from the US, Europe, and Australia

Saudi Arabia’s General Grain Corporation said on Monday it had agreed to buy 625,000 tons of wheat in an international tender.

The corporation added that it bought at an average price of $422.47 per ton.

That represented a significant increase from the $365.14 per tonne including freight paid in the firm’s previous tender to buy wheat in December.

Traders say that Saudi Arabia is one of the importing countries affected by the disruption of Ukrainian and Russian grain exports and the rise in wheat prices and other basic commodities.

The corporation said the shipments are for supply in the period from September to November.

The tender requested 355,000 tons of durum wheat with a protein content of 12.5 percent and closed on Friday.

Ahmed Al-Faris, the governor of the foundation, said in a statement that the origins that were put forward are the European Union, the Black Sea region, North America, South America, and Australia, with the seller having an option to choose the origin.

The supply will be in 11 shipments distributed to four Saudi ports.

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