HAMBURG/LONDON, Dec 17 (Reuters) – Iran’s state grains buyer GTC has purchased around 250,000 tonnes of Mexican-origin durum wheat and 180,000 tonnes of wheat from the Baltic Sea region as a food buying spree continues after the relaxation of sanctions, European traders said on Tuesday.
“Iran seems to be continuing its food buying programme taking use of the new freedom following suspension of sanctions,” one European trader said.
Iran was never barred from buying food under western sanctions imposed over the country’s disputed nuclear programme, but EU and U.S. financial measures have made trade more difficult for the past two years by hindering payments and shipping.
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“Iran has a large need for grain imports and is likely to use the period of relaxed sanctions to raise its inventories,” another trader said.
Since the sanctions deals, Iran has been reported by traders as making heavy purchases of wheat and sugar.
The Mexican durum was for shipment in March/April 2014 and the Baltic Sea milling wheat for February 2014 shipment from countries including Lithuania, traders said.
Durum is a high grade hard wheat used for such dishes as pasta and semolina.
“Mexico is a traditional exporter of durum to the Middle East but I have not seen any sales to Iran recently,” another trader said. “I think the sanctions changes are enabling a more adventurous food purchasing policy by Iran.”
Iranian interests have also purchased 25,000 tonnes of corn from the Black Sea region for shipment from Ukraine in December, traders added.
“Iran is looking to do more business across various commodities including grains and sugar these days,” another trade source said.
“On the wheat side, the recent interest in Mexican wheat shows they are looking at tapping wider origins and they look to be using a bigger pool of agents across the globe working on these deals.”
The Baltic Sea milling wheat purchases are in addition to at least 300,000 tonnes bought from Europe in late November and early December.
