HAMBURG- Turkey's state grain board TMO has started making provisional purchases of wheat in an international tender which closed on Tuesday with about 175,000 tonnes initially bought, traders said.
The tender seeks 335,000 tonnes and more purchases are expected later on Tuesday.
The tonnages purchased in TMO’s tenders are provisional and still subject to final confirmation in coming days. Purchases can be reduced or cancelled completely.
Red milling wheat of 12.5% and 13.5% protein content is sought in a series of consignments to several Turkish ports.
Both imports and wheat already in warehouses in Turkey can be offered in the tender. Traders said some export houses have been shipping Russian wheat into Turkey in advance of sales to escape repeated increases in Russia's export taxes.
Traders reported these provisional purchases with port of unloading/delivery, tonnes sold, protein content, seller, price in dollars a tonne c&f and if to be delivered from a warehouse in Turkey: Port Tonnes Protein Seller Price If warehouse Iskenderun 25,000 12.5% Altin Ates $345.70 warehouse Iskenderun 25,000 12.5% Viterra $345.80 warehouse Mersin 50,000 12.5% Tiryaki $351.40 warehouse Izmir 25,000 12.5% Yayla $350.15 warehouse Izmir 25,000 12.5% Sierentz $345.15 Derince 25,000 12.5% Erser $344.30
The tender continues an active period of grain importing by Turkey to cool local prices and secure domestic supplies in the face of a serious reduction in the country’s cereals crop after drought, traders said.
In its last reported wheat tender on Dec. 21, the TMO bought about 320,000 tonnes at the lowest price of $354.90 a tonne c&f.
(Reporting by Michael Hogan, editing by Kirsten Donovan) ((email@example.com; +49 172 671 36 54; Reuters Messaging: firstname.lastname@example.org))