April 18, 2022

Philippines importer group reportedly acquired around 55,000 tonnes of feed wheat in early April

An importer group in the Philippines is believed to have bought around 55,000 tonnes of animal feed wheat expected to be sourced from India in an international tender which closed on April 6, European traders said.

Traders estimated the purchase was made about $365 to $370 a tonne c&f for shipment in August.

Large volumes of low-cost Indian wheat are currently being offered in Asian markets, traders said. Offers of Australian wheat in the tender were considerably higher at around $400 a tonne c&f, they said.

The tender had sought between 50,000 tonnes to 55,000 tonnes of wheat for shipment in each month between July to December, but traders had not expected every shipment position to be purchased.

- Reuters