Turkey gets offers in 325,000 tonne corn purchase tender

The lowest offer in the first round of the tender from Turkey’s state grain board TMO to buy 325,000 tonnes of animal feed corn on Tuesday was believed to be $304.70 a tonne for supplies from warehouses in Turkey with the same price also offered for imports, traders said in initial assessments.

The lowest offer was said to have been submitted separately by two trading houses each for 25,000 tonnes.

One offer was made by trading house Promaks for corn already in warehouses in Turkey for delivery to the port of Samsun and the other by Bek Tarim for imports for delivery to the port of Karasu.

No purchase has yet been reported, they said. The TMO traditionally undertakes several rounds of negotiations in tenders seeking lower offers each round.

Lowest offers per tonne for shipment/delivery to other ports were assessed to the port of Derince at $311.70 c&f believed to be for imports, to Iskenderun $318.80 from warehouses, to Mersin $313.80 c&f for imports, to Izmir $309.59 from warehouses, to Bandirma $307.70 from warehouses and to Tekirdag $314.35 c&f for imports.

Dealers say some exporters have made advance grain shipments to Turkey partly to escape rises in Russian grain export taxes, which are being increased in stages to conserve Russia’s domestic supplies.

The tender continues recent strong grain import demand from Turkey to ensure good domestic supplies after the country’s crops suffered drought damage last summer.

Nasdaq

Tags: Turkey, tender, corn