February 7, 2005

Philippines buys US wheat, eyes more for May

The Philippines has struck a deal to import 45,000 tons of US wheat for March shipment with traders eyeing an additional 45,000 tons for May, a leading flour miller said on Monday.

Antonio Moraza, president of one of the country's largest flour milling firms, Pilmico Foods Corporation, said the March deal has been confirmed for both hard and soft wheat.

Hard wheat purchases were finalised at approximately US$190 a ton FOB and soft wheat was bought for about US$145, he added.

"We will need an additional 45,000 tons also for May," Moraza said in an interview.