June 7, 2006

Syria tenders to sell 50,000 tonnes wheat

Syria's General Establishment for Cereal Processing and Trade, or Hoboob, said Wednesday (Jun 7) it is tendering to sell 50,000 tonnes of wheat.

Hoboob aims to sell 25,000 tonnes of soft milling wheat and 25,000 tonnes of hard durum wheat for shipment from Jul 1 to Aug 15, a Hoboob official told Dow Jones Newswires.

The tender would close Jun 12 and the results would be announced Jun 13, he said.

Hoboob canceled a tender Tuesday to sell 50,000 tonnes of wheat to be milled in Syria and exported as flour, saying prices were not suitable. The state grain agency also canceled a tender to sell 50,000 tonnes of wheat May 16, citing the same reason.

"Syria chooses to sell its wheat in euros due to strained relations with the US and the exchange rate at the moment makes it too expensive to buy their wheat," a trader told Dow Jones Newswires.

Hoboob last sold wheat in a tender process April 18, when it exported 15,000 metric tons of wheat at EUR122.50 (US$157) a tonne.