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US wheat industry sells order to Iraq
The US wheat industry is crowing over finally clinching the sale of grain to Iraq.

An 11-hour meeting with Iraqi grain buyers in Cairo has resulted in the US getting an order for 165,000 tonnes of hard red winter wheat.

Dawn Forsyth from the lobby group US Wheat Associates called it a 'significant step' towards competing with Australia, in a market we've dominated for many years.

"This is really the first major sale of US wheat to the Iraqi Grain Board since the Oil For Food Program.

"This sale is a great first step, but we're looking forward to more vigorous competition in the future."

And local grains analyst Lloyd George expects a tough fight between the US and Australia, to win the remaining contracts for Iraq.

Australia has already signed a one million tonne deal, and Iraq is forecast to import around three million tonnes of wheat this financial year.

However Mr George says the US sale is relatively small.

"One hundred and sixty-five thousand tonnes, in any terms, is a significant sale; but if we put it into a broader perspective, Iraq's forecast to import in excess of three million tonnes in the 04/05 year, so it's probably around one month's supply."

A spokesman for Australia's wheat exporter AWB Limited, says the company always expected the new Iraq market to be very competitive.

But he says Australia doesn't compete directly with US hard red winter wheat.
MGR Archive 27.1.2005
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Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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