- Total Volume: Tunisia’s ODC secured 150,000 tonnes of wheat (100,000 tonnes soft, 50,000 tonnes durum) in its March tender.
- Price Levels: Soft wheat was booked as low as $271.69/tonne C&F, while durum wheat traded at $334.49–$334.67/tonne C&F.
- Delivery Windows: Durum wheat ships earlier in April 2024, with soft wheat following in May 2024.
- Suppliers & Origin: Buildcom and Casillo won the tender, with wheat allowed from any origin, intensifying competition for Black Sea exporters.
- Market Impact: Pricing and flexible origin terms are neutral to slightly bearish for Black Sea wheat, signaling strong global competition.
Tunisia’s March Wheat Tender Overview
The Tunisian State Grain Agency (ODC) concluded an international wheat tender in March, securing a total of 150,000 tonnes across soft and durum wheat categories. The tender structure and pricing provide an important benchmark for Mediterranean and Black Sea wheat values heading into Q2 2024.
Contracted Volumes, Prices, and Delivery Windows
| Commodity | Supplier | Volume (tonnes) | Price (C&F) | Shipment / Delivery Window | Origin |
|---|---|---|---|---|---|
| Soft wheat (lot 1) | Buildcom | 25,000 | $271.69/tonne | May 1–20, 2024 | Any origin |
| Soft wheat (lot 2) | Not disclosed | 25,000 | Not disclosed | May 1–20, 2024 | Any origin |
| Soft wheat (lot 3) | Not disclosed | 25,000 | Not disclosed | May 1–20, 2024 | Any origin |
| Soft wheat (lot 4) | Not disclosed | 25,000 | Not disclosed | May 1–20, 2024 | Any origin |
| Durum wheat (lot 1) | Casillo | 25,000 | $334.49/tonne | April 1–30, 2024 | Any origin |
| Durum wheat (lot 2) | Casillo | 25,000 | $334.67/tonne | April 1–30, 2024 | Any origin |
| Total soft wheat | – | 100,000 | – | May 1–20, 2024 | Any origin |
| Total durum wheat | – | 50,000 | – | April 1–30, 2024 | Any origin |
The soft wheat portion of the tender totaled 100,000 tonnes, divided into four lots of 25,000 tonnes. Buildcom secured the most competitive lot at $271.69/tonne C&F, setting a reference price for May delivery into North Africa. All soft wheat is scheduled to arrive between May 1–20, 2024, in line with typical seasonal import demand.
For durum wheat, ODC purchased 50,000 tonnes split into two equal 25,000-tonne lots from Casillo. The first lot was priced at $334.49/tonne C&F and the second at $334.67/tonne C&F, with shipment and delivery targeted for April 1–30, 2024. The earlier durum window suggests a more immediate supply need compared with the soft wheat segment.
Market Implications and Regional Competitiveness
The tender allowed wheat of any origin, increasing competitive pressure on traditional suppliers, including Black Sea exporters. The $271.69/tonne C&F soft wheat price underscores current global competitiveness. If Black Sea sellers participated, comparable FOB values are likely to face renewed downward pressure, especially for Russia and Ukraine, as they defend market share in the Mediterranean basin.
The relatively tight April shipment window for durum wheat hints at urgency in Tunisia’s near-term supply strategy, while the May delivery profile for soft wheat broadly aligns with established North African import patterns. Market participants will be watching to see which origins ultimately cover these positions, as this will be an important signal of regional price leadership and logistics strength going into mid-2024.
Source: Market Data
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