paryab.co: Iran bought a large batch of wheat from foreign markets

Iran bought a large batch of wheat from foreign markets
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paryab در 24/12/2019 21:39:00


 • Iran bought a large batch of wheat from foreign markets • December 20,
2019 08:30 • Iran bought up to 1 million tons of wheat from foreign markets
last week. According to the agency Grain On-Line with reference to IA Reuters.
• As expected, the origin of wheat is Russia and some countries of the
European Union, including Germany. • Two Panamax class dry cargo vessels with
Russian wheat, according to sources, should sail from the Black Sea ports of
Russia next week. • Iran, by the end of the season 2019/20 March 31, according
to the October forecast of the Federation of Food Industry Associations, should
import 3 million tons of wheat. • Iran’s Deputy Minister of Agriculture said
in November that his country signed a memorandum of understanding on wheat
imports with Russia and Kazakhstan. • The counterparty of recent transactions
is unlikely to be large international companies, fearing to fall under US
sanctions. According to traders, deliveries will be through two Middle Eastern
and one Asian trading companies. • The buyer is most likely the Iranian state
trading corporation GTC, as private importers buy wheat from the ports of the
Caspian Sea.