SAGO buys 745K tonnes of wheat in latest tender

Riyadh – Mubasher: The Saudi Grains Organization (SAGO) has purchased 745,000 tonnes of wheat at its latest international purchasing tender this year.

Origins offered in the tender were the European Union, Black Sea, Australia, South America, and North America (excluding Canada), according to a statement on Monday.

SAGO Governor, Ahmad Al Fares, said this batch aims to meet the local needs and preserve the strategic wheat inventory. He also noted that a total of 23 international companies specialised in grain trade were invited, of which 15 competed. Five international companies were awarded the lowest bids in the tender.

The fourth batch is set for delivery between November 2020 and January 2021, through 12 vessels., taking the total wheat purchased to date to 2.2 million tonnes, the statement read. 

Source: Mubasher Source: {{details.article.source}}