Saudi Arabia boosts wheat purchase by 28% despite sharply higher prices
Saudi Arabia bought about 683,000 tonnes of 12.5% protein wheat at $334.6–348/t C&F for November–December delivery, exceeding its target by 28%. Despite sharply higher prices than July, GFSA increased purchases to replenish strategic reserves and supply millers, highlighting sustained import demand.
Saudi Arabia bought around 683 thsd tons of 12.5% protein wheat in an international tender, 148 thsd tons, or 28%, above the initially sought volume of 535 thsd tons.
The purchase was conducted by the General Food Security Authority (GFSA). Deliveries are scheduled for November–December 2026, with wheat eligible to originate from the EU, the Black Sea region, North and South America, and Australia.
Contracts were awarded at $334.6–348/t C&F depending on the shipment and destination port. This is well above prices in GFSA’s previous major tender in July, when wheat was bought mostly at $267.7–272.8/t C&F.
Saudi Arabia had already attempted to buy 535 thsd tons of wheat in early September but declined to award contracts because offers were considered too expensive. In the latest tender, the country not only returned to the market but increased its purchase volume by nearly a third.
The wheat will be used to replenish strategic reserves and supply the milling sector. The larger purchase despite sharply higher prices points to sustained import demand from one of the Middle East’s key wheat buyers.
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Source : UkrAgroConsult
