August 21, 2008

Japan's barley tender falls short

Japan's Ministry of Agriculture fell short of its target of 100,000 tonnes of feed barley to be bought at a tender, buying 36,080 tonnes instead through the simultaneous buy and sell (SBS) system, a ministry official said on Wednesday (August 20, 2008).

All shipments must be made by Nov. 30.

The SBS scheme allows greater flexibility than ordinary tenders as users and trading firms can negotiate details, such as the grain's origin and price, before placing a bid with the government.

The ministry increased its import tenders for wheat and barley for animal feed use to about twice a month from every bimonthly recently as volatility in the world grain markets increased.