Thailand makes no purchase in 193,300 tonne wheat tender - traders

 

FILE PHOTO: Reuters

 

HAMBURG (Reuters) - Thailand’s association of feed mills (TFMA) is believed to have made no purchase in a tender for up to 193,300 tonnes of animal feed wheat which closed on Wednesday, European traders said.

 

Prices were regarded as too high.

 

Traders said the group was seeking to pay about $215 a tonne c&f, with lowest sale offers estimated to be around $224 to $225 a tonne c&f, traders said.

 

The wheat was sought in three consignments sourced from global origins excluding Russia, Brazil and Pakistan, they said.

 

Some 73,300 tonnes was sought for shipment between Oct. 1-31, 60,000 tonnes between Nov. 1-30 and 60,000 tonnes between Dec. 1-31.

 

Importers in Thailand purchased more than 100,000 tonnes of optional-origin feed wheat in a tender that closed on July 1.

 

(Reporting by Michael Hogan, editing by Jane Merriman)

 

-- © Copyright Reuters 2020-07-09

 

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Cheap Charlies!

This is not a win situation for Thailand.

Not purchasing foreign wheat can create a domestic shortage, thus raising consumer prices for wheat fed livestock and wheat products. But traders protect their profit margins either way. 

Of course they are experts on seperating the wheat from the chaffs