European traders said on Tuesday that the Tunisian Grain Board had launched an international tender to purchase some 100,000 tonnes of durum wheat.
Wheat can be supplied from optional origins and the deadline for submitting bids in the tender is Wednesday, March 8, according to Reuters.
With high and volatile prices, global wheat buyers are reducing their supply purchases futurebut this increases their exposure to potential price increases that will eventually burden consumers already affected by food price inflation.
According to millers, analysts and traders, buyers from major importing countries in Asia, the Middle East and Africa are making so-called forward purchases of supplies to cover needs for only two to three months, as opposed to regular purchases for up to six months. .
It usually takes months for higher grain prices to be felt by consumers because mills have more inventories and can handle the fluctuations. But with fewer inventories and fewer advance deliveries, consumers, especially in poor countries, will feel the impact of higher prices more quickly.
Chicago wheat futures jumped one notch record in March after Russia invaded Ukraine, a major grain exporter. Bad weather in other production areas has reduced supplies. Futures are down 48% from last year’s peak, but grain prices remain high amid supply uncertainty in the Black Sea region and crop concerns in the United States.
Grain shipments from the Black Sea continue in under an agreement supported by the United Nations, but tale The deal was renegotiated in talks starting this week amid the risk of an escalation of war between Russia and Ukraine.
You must log in to post a comment.