February 13, 2012

Vietnam seeks 85,000 tonnes of feed wheat for March delivery

Vietnam's feed millers seek to buy 85,000 tonnes of feed wheat for March shipment, trading executives said Friday (Feb 10).

"Vietnamese [millers] had covered their [feed wheat] requirements until February and have been mostly out of the market for six weeks now," a Ho Chi Minh City-based importer said.

The millers still need about 90% of their requirements for March shipment, he said.

Vietnam buys most of its feed-grade wheat from Australia, where the latest offers from the east coast are close to US$300/tonne, on a cost and freight basis, to East Asian destinations, but buyers are looking for cargoes at slightly lower prices.