January 30, 2008

Japan seeks feed barley, feed wheat in tender

Japan's Ministry of Agriculture, Forestry and Fisheries is seeking a maximum of 241,000 tonnes of feed barley and 17,000 tonnes feed wheat in a simultaneous buy-sell, or SBS, tender to be concluded Feb. 13, a ministry official said Tuesday (January 30, 2008).

The wheat and barley are expected to be shipped between Feb. 13 and May 31.

Under the SBS system, the ministry floats periodic tenders that simultaneously identify the price at which the ministry can buy a product from an importer and sell the product to an end-user.

Bids with the highest markup - or difference between the price that the ministry will pay and the price that the ministry will receive - get preference.