HAMBURG- Iranian state agency the Government Trading Corporation (GTC) is believed to have purchased an unknown volume of milling wheat in a tender for 60,000 tonnes which closed on Tuesday, European traders said on Thursday.
Trader estimates of the purchase ranged between one shipment of 65,000 tonnes to four to five shipments totalling around 260,000 tonnes to about 325,000 tonnes.
Shipment was sought in December 2020 and in January 2021.
"I think Iran is likely to buy more wheat to ensure comfortable buffer stocks, especially before the new harvest around June/July next year," one trader said. "But payment channels remain intensely difficult because of Western sanctions which hinder payments through normal banking channels, which is disappointing."
The wheat in this week's tender can be sourced from optional origins, with Russia, Germany and the Baltic States seen as among possible suppliers.
Traders said a ship is currently loading about 65,000 tonnes of wheat for Iran in a German port following a previous recent purchase.
(Reporting by Michael Hogan, editing by David Evans) ((michael.j.hogan@thomsonreuters.com; +49 172 671 36 54; Reuters Messaging: michael.hogan.thomsonreuters.com@reuters.net))
