ALL Translated from Arabic. Only portions
14/10/2009
BAGHDAD (Reuters) - A General Company for Grain that Iraq is one of the largest grain importers in the world intends to continue to buy wheat in 2010 taking advantage of falling prices, and obtained a loan of $ 500 million to cover the purchases of grain.
"Said Hassan Ibrahim, acting director of the company told Reuters in an interview late on Tuesday," We bought 300 thousand tons (of wheat) to cover our needs for the months of January and February 2010.
"The decline in wheat prices in the United States, Australia and other exporting countries and have taken this opportunity and we bought grain."
Trade sources said that the company bought earlier this month, 200 thousand tons of wheat from AT. De. Or the U.S. for about $ 203 per ton price of free on board (FOB).
Ibrahim said it had bought 100 thousand tons during the auction of a European company at 259.85 per ton, the cost of comprehensive insurance and freight (CIF).
" He said, "We have concluded an agreement with the Trade Bank of Iraq, and we got a loan of $ 500 million and thus paid off each (amount owed) Once the Parliament to settle the subject of budget we will respond with the loan (the Commercial Bank of Iraq)."
The United States has become the main source of grain to Iraq since the US-led invasion in 2003.
14/10/2009
BAGHDAD (Reuters) - A General Company for Grain that Iraq is one of the largest grain importers in the world intends to continue to buy wheat in 2010 taking advantage of falling prices, and obtained a loan of $ 500 million to cover the purchases of grain.
"Said Hassan Ibrahim, acting director of the company told Reuters in an interview late on Tuesday," We bought 300 thousand tons (of wheat) to cover our needs for the months of January and February 2010.
"The decline in wheat prices in the United States, Australia and other exporting countries and have taken this opportunity and we bought grain."
Trade sources said that the company bought earlier this month, 200 thousand tons of wheat from AT. De. Or the U.S. for about $ 203 per ton price of free on board (FOB).
Ibrahim said it had bought 100 thousand tons during the auction of a European company at 259.85 per ton, the cost of comprehensive insurance and freight (CIF).
" He said, "We have concluded an agreement with the Trade Bank of Iraq, and we got a loan of $ 500 million and thus paid off each (amount owed) Once the Parliament to settle the subject of budget we will respond with the loan (the Commercial Bank of Iraq)."
The United States has become the main source of grain to Iraq since the US-led invasion in 2003.
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