Japan Secures 8,370 Tons of Feed Wheat in Latest Tender
Source: DairyNews.today
Japan has finalized the import of 8,370 tons of feed-quality wheat through a simultaneous buy and sell (SBS) auction, according to the Ministry of Agriculture, Forestry and Fisheries (MAFF).
The auction, which concluded on Wednesday, was part of Japan's ongoing efforts to meet its livestock feed requirements, Reuters reported.
The ministry had initially sought 65,000 metric tons of feed wheat and an additional 25,000 tons of feed barley. These grains are required to be loaded by December 31, 2024, and must arrive in Japan no later than February 27, 2025.
Japan’s unique SBS auction system allows end-users and importers to customize their grain purchases, specifying origin, price, and quantity to suit their specific needs. This flexible approach ensures that millers and livestock farmers can obtain feed grains that meet their operational demands.
Although the total quantity sought was higher, the final purchase amounted to 8,370 tons of feed wheat. The auction results included details of the volume purchased as well as the average price per tonne, enabling the market to adjust to the specific requirements of Japan's feed industry. Further information on the average price in yen per tonne will be released by MAFF in due course.
Japan continues to use its SBS auctions to balance its import needs for feed grains, reflecting its strategic approach to managing both domestic livestock demand and international grain supply fluctuations. The country's steady imports of feed wheat and barley are crucial to maintaining stable production in its livestock sector, with further tenders likely as market conditions evolve.
The ministry had initially sought 65,000 metric tons of feed wheat and an additional 25,000 tons of feed barley. These grains are required to be loaded by December 31, 2024, and must arrive in Japan no later than February 27, 2025.
Japan’s unique SBS auction system allows end-users and importers to customize their grain purchases, specifying origin, price, and quantity to suit their specific needs. This flexible approach ensures that millers and livestock farmers can obtain feed grains that meet their operational demands.
Although the total quantity sought was higher, the final purchase amounted to 8,370 tons of feed wheat. The auction results included details of the volume purchased as well as the average price per tonne, enabling the market to adjust to the specific requirements of Japan's feed industry. Further information on the average price in yen per tonne will be released by MAFF in due course.
Japan continues to use its SBS auctions to balance its import needs for feed grains, reflecting its strategic approach to managing both domestic livestock demand and international grain supply fluctuations. The country's steady imports of feed wheat and barley are crucial to maintaining stable production in its livestock sector, with further tenders likely as market conditions evolve.
