Economy, Domestic Economy

Iran to Import 120K Tons of Soymeal

Iran to Import 120K Tons of SoymealIran to Import 120K Tons of Soymeal

Iranian state-owned animal feed importer SLAL has agreed to purchase about 120,000 tons of soymeal through an international tender at the weekend, European traders said on Monday.

Traders said the sale was said to have been made by a small trading house believed to be from Russia, Tasnim news agency cited a report by Reuters as saying.

“The main grain houses did not participate because of the problems in gaining trade finance from banks for Iran,” one exporter said.

“Banks were unwilling to provide the bid bonds and performance bonds requested in the tender. We will have to wait and see whether shipment to Iran is actually feasible in this tender.”

Offers in the latest tender were submitted on Nov. 29 and were opened on Dec. 2, traders said.

The soymeal can be sourced from Argentina or Brazil only.

Shipment was sought in two 60,000-ton consignments, one for shipment between Dec. 22, 2017, and Jan. 21, 2018, and the other between Feb. 9-March 11, 2018.

SLAL has taken a backseat in Iran’s grain purchasing in recent years and its renewed activity is seen as another sign the country’s grain imports are returning to traditional patterns after anti-Tehran sanctions were removed following the 2015 nuclear deal between Tehran and world powers, known as the Joint Comprehensive Plan of Action.

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