July 25, 2007

Japan to buy feed wheat, feed barley in SBS tender
 

Japan's Ministry of Agriculture, Forestry and Fisheries is seeking 44,000 tonnes of feed wheat and 341,000 tonnes of feed barley in a simultaneous buy-sell or SBS tender to be concluded Aug 8, a ministry official said Wednesday (Jul 25).

Under the SBS system, the ministry floats periodic tenders that simultaneously identify the price that the ministry can buy a product from an importer and the price that it can 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.