
Iran's SLAL tenders for 120,000 tons each corn, barley and soymeal
The deadline for submission was Monday, they said, adding that the price offers were still being considered and that no purchase had been reported.
The shipment of grains is expected to be in July and August.
The corn can be sourced from Brazil, Europe, Russia, Ukraine or elsewhere in the Black Sea region, including Turkey.
The barley can be sourced from the European Union, Russia, Ukraine or elsewhere in the Black Sea region, including Turkey or from Kazakhstan.
The soymeal can be sourced from Brazil or Argentina only.
South Korea's MFG buys estimated 199,000 tons corn, traders say
Iranian businesses have been hit by payment issues as Western sanctions over the country's nuclear programme made overseas participation in recent tenders difficult, traders said.
While sanctions exempt food, Iran's financial system has been affected, creating complex and erratic payment arrangements.
Traders said Iran was offering payment via two banks, one in Iraq and one in Turkiye.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
12 hours ago
- Business Recorder
Trump, EU's von der Leyen to meet on Sunday to clinch trade deal, avert trade war
BRUSSELS/EDINBURGH: European Commission President Ursula von der Leyen is set to meet US President Donald Trump on Sunday to clinch a trade deal for Europe that would likely see a 15% baseline tariff on most EU goods, but end months of uncertainty for EU companies. Trump, in Scotland for a few days of golfing and bilateral meetings, told reporters upon his arrival on Friday evening that von der Leyen was a highly respected leader and he was looking forward to meeting with her on his golf course in Turnberry. He said there was a 50-50 chance that the U.S. and the 27-member European Union could reach a framework trade pact, adding that Brussels wanted to 'make a deal very badly.' The EU faces U.S. tariffs on more than 70% of its exports, with 50% on steel and aluminium, 25% on cars and car parts and a 10% levy on most other EU goods. Trump has said he would hike the rate to 30% on August 1, a level EU officials said would wipe out whole chunks of transatlantic commerce. Further tariffs on copper and pharmaceuticals are looming. A 15% tariff on most EU goods would be seen by many in Europe as a poor outcome compared to the initial European ambition of a zero-for-zero tariff deal on all industrial goods. But it would be better than 30% and it would remove uncertainty about business conditions that has already hit profits of European companies. For Trump a deal with the EU would be the biggest trade agreement, surpassing the $550 billion accord reached with Japan earlier this week. Trump, who is seeking to reorder the global economy and reduce decades-old U.S. trade deficits, has so far reeled in agreements with Britain, Japan, Indonesia and Vietnam, although his administration has failed to deliver on a promise of '90 deals in 90 days.' The EU deal would be a huge prize, given that the US and EU are each other's largest trading partners by far and account for a third of global trade. While close, a deal still requires some final negotiations. US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick departed Washington for Scotland on Saturday for talks with EU Trade Commissioner Maros Sefcovic, who is also travelling to Scotland, before the Trump-von der Leyen meeting. 'We're cautiously optimistic that there will be a deal reached,' said a Trump administration official, who spoke on he condition of anonymity. 'But it's not over till it's over.' In case there is no deal and the U.S. imposes 30% tariffs from August 1, the EU prepared countertariffs on 93 billion euros ($109 billion) of U.S. goods. EU diplomats have said a possible deal would likely include a broad 15% tariff on EU goods imported into the US, mirroring the US-Japan deal, along with a 50% tariff on European steel and aluminium. Trump told reporters there was 'not a lot' of wiggle room on the 50% tariffs that the U.S. has on steel and aluminium imports, adding, 'because if I do it for one, I have to do it for all.' It remains unclear if Washington would exempt EU imports from other sectoral tariffs on automobiles, pharmaceuticals and other goods that have already been announced or are pending although EU officials are hopeful the 15% baseline tariff would apply also to cars and pharmaceuticals.


Express Tribune
15 hours ago
- Express Tribune
Investors eye US-Europe deal before deadline
Listen to article Investors are hopeful a potential trade deal between the US and European Union could bring more certainty to markets ahead of next Friday's tariffs deadline. European Commission President Ursula von der Leyen was set to meet US President Donald Trump on Sunday in Scotland after EU officials and diplomats said they expected to reach a framework deal this weekend. Trump on Friday said there was a 50-50 chance or perhaps less that the US would reach a trade agreement with the EU. Trade tensions between the US and Europe may have provided some investors with a rationale to be cautious, said Sameer Samana, Head of Global Equities and Real Assets at Wells Fargo Investment Institute. "It's one of our largest trading relationships... So if that last piece falls into place, then you've probably got at the margin more people that have to get back in the markets," Samana said. "It's been a source of uncertainty that will go away." A deal would likely include a 15% baseline tariff on all EU goods entering the US and probably a 50% tariff on European steel and aluminum, the officials and diplomats said. Optimism over easing trade tensions broadly has helped push US stocks to record highs. Trump's April 2 "Liberation Day" announcement of sweeping global tariffs sent stocks plunging in the immediate aftermath, due to spiking fears about a recession that have since faded. Still, investors have been bracing for increased volatility heading into August 1, which the US has set as a deadline for raising levies on a broad swath of trading partners. The EU is facing US tariffs on more than 70% of its exports – 50% on steel and aluminum, 25% on cars and car parts and a 10% levy on most other EU goods, which Trump has said he would hike to 30% on August 1. Hopes for a deal with Europe rose after Trump struck a trade agreement with Japan earlier in the week. "The deal with Japan and the likely one soon with the EU are especially important given both are major US trading partners, together accounting for about a quarter of all goods' imports," analysts at Capital Economics said in a note on Friday. In the agreement with Japan, the country's auto sector, which accounts for more than a quarter of its US exports, will see existing tariffs cut to 15% from levies totaling 27.5% previously. An agreement that also lowers EU auto tariffs to 15% "would be no small deal" for the region as well, as about 10% of its shipments to the US are in the same category, Capital Economics said. Investors over the weekend were also watching for developments on trade between the US and China. Officials from the two countries plan to meet in Stockholm next week to discuss extending an August 12 deadline for negotiating a deal. Seoul seeks mutually agreeable package Meanwhile, South Korea will prepare a trade package that is mutually agreeable with the US ahead of minister-level meetings planned for next week and a US tariff-pause deadline of August 1, the presidential office said on Saturday. The package will include shipbuilding cooperation, a sector of high interest to US Commerce Secretary Howard Lutnick, who discussed the matter with South Korea Industry Minister Kim Jung-kwan on Friday, it said in a statement. Friday's meeting was a follow-up to a meeting on Thursday, where Lutnick and Kim reaffirmed their commitment to reach a trade deal by August 1, after a joint meeting of finance ministers and top trade envoys that had been scheduled for Friday was postponed. South Korea, facing 25% tariffs, is rushing to reach a trade deal with Washington, with National Security Adviser Wi Sung-lac visiting the US recently for high-level talks and Minister for Trade Yeo Han-koo also in the US for negotiations, as pressure grows on officials to clinch a deal that is no worse than Japan's that cut tariffs to 15%. South Korea's trade negotiations with the US have included non-tariff barriers in the agricultural and digital service sectors, but foreign exchange has not been part of trade talks beyond usual consultations, according to South Korean officials. South Korea Finance Minister Koo Yun-cheol and Foreign Minister Cho Hyun will also hold meetings with US Treasury Secretary Scott Bessent and State Secretary Marco Rubio, respectively, next week.


Business Recorder
2 days ago
- Business Recorder
Pakistan reaffirms commitment to GSP+
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday underscored the European Union's status as one of Pakistan's foremost trading partners and reaffirmed the government's commitment to the Generalised Scheme of Preferences Plus (GSP+), describing it as a mutually beneficial arrangement. The prime minister, during a meeting with the outgoing Ambassador of the European Union to Pakistan, Dr Riina Kionka – who paid a farewell call as she concluded her diplomatic tenure – acknowledged her contributions to strengthening Pakistan-EU relations. Extending his felicitations to Ambassador Kionka on the successful completion of her assignment, Sharif appreciated her efforts in enhancing Pakistan-EU relations. GSP plus status: EU review puts Pakistan's duty-free export to the test amid reforms push He also acknowledged the European Union's timely assistance during the devastating floods of 2022, and lauded the ambassador's role in mobilising support. The prime minister conveyed his warm regards to the EU President, Ursula von der Leyen, and expressed his desire to meet her in the near future to further deepen bilateral engagement. The Interaction also included discussions on domestic political developments and the broader trajectory of Pakistan-EU relations. Ambassador Kionka expressed her gratitude to the prime minister and the government for the support extended to her during her tenure. She reaffirmed the EU's commitment to advancing its partnership with Pakistan, and stated that she would continue to advocate for strong bilateral ties in her upcoming role in Brussels. Copyright Business Recorder, 2025