European traders reported on Saturday that the Iranian state-owned animal feeding importer SLAL had issued international tenders for up to 120,000 metric tonnes of animal feed corn, and 120,000 metric Tons of soymeal.

They said that the deadline for submitting price offers to tenders is November 19.

The shipment of both corn and soybean meal is expected to take place in January and February 2020.

Corn can be purchased from Brazil, Europe or other countries in the Black Sea Region.

Soymeal is only available in Brazil and Argentina.

Traders said that the Western sanctions on Iran had caused payment problems for Iranian companies, which made it difficult to participate in recent Iranian tenders.

The Food Industry is Exempted from Western Sanctions

Sanctions have affected the Iranian financial system and created complex payment arrangements.

According to traders, Iran is offering to pay for the new tenders through two banks: one in Iraq and another in Turkey.

Iran wants to receive bids in Euros for its tenders. Iran has traditionally refused to use U.S. dollars for grain transactions.

Traders said SLAL had made no purchases in

previous tenders

On November 5, 120,000 tons of corn and soybean meal each reported seeking the same shipping dates. Michael Hogan, Mark Heinrich and Mark Heinrich edited the report.

(source: Reuters)