BAGHDAD: Iraq’s trade ministry said on Thursday it had bought 90,000 tonnes of US rice in a direct deal outside of the tender process.
The deal was signed with ADM at the price of $648 a tonne, Mohammed Hanoun, a spokesman for the ministry, said.
European traders said the deal was for long grain milled rice for November 2017-February 2018 shipment.
Iraq on Nov. 6 also confirmed it had purchased 500,000 tonnes of wheat in a direct purchase, from Cargill, ADM and a third unnamed firm.
Iraq’s cabinet in May authorised the ministry of trade to make direct purchases of wheat and rice to guarantee food security.
The Middle East buyer had been struggling to import the grains for its food subsidy programme after introducing new payment and quality terms that kept traders away from its international tenders earlier this year.
Source: Brecorder.com
