
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
an hour ago
- Business Recorder
European shares close higher as US-China tariff truce
FRANKFURT: European shares closed higher on Tuesday on optimism about the US-China tariff truce and interest rate cuts by the US Federal Reserve, while declines in heavyweight technology stocks limited gains. The pan-European STOXX 600 index closed 0.2% higher a day after starting the week lower. Investors were relieved after Washington and Beijing extended a tariff truce by 90 days, staving off triple-digit duties on each other's goods until November 10. 'Equity markets have been pretty relaxed about all the trade news. The assumption seems to be that (US President Donald) Trump will relent on everything and that it will all be OK,' said Rob Perrone, investment specialist for Orbis Investments. 'If the news is better than yesterday's, then stocks go up.' Most sectors on the benchmark STOXX 600 rose, led by energy with a 1.5% advance. Vestas Wind Systems outperformed peers with a 4.7% gain, after receiving US orders for undisclosed projects. Heavyweight tech shares fell 2.1% to their lowest levels since early May. Software stocks in particular fell sharply on concerns that artificial intelligence could weaken this technology segment. SAP slid 7%, while Nemetschek SE was down 11%, the biggest decliners on the index. The stocks logged their steepest one-day declines since 2020. Most regional indexes were higher, but Germany's DAX , dipped 0.2%. German investor morale fell more than expected in August, an index showed. Latest earnings forecasts showed companies are expected to report 4.8% growth in second-quarter earnings, on average, above the previously expected 3.1%, according to LSEG I/B/E/S data. Earnings in Europe have been resilient so far, partly because the recent EU-US tariff deal has eased concerns over how Trump's levies might affect corporate performance. Moreover, data showed US inflation rose broadly in line with expectations in July, putting the Fed on track to lower interest rates next month. Markets also eyed a Friday meeting between Trump and Russian President Vladimir Putin on Russia's war in Ukraine. Trump said on Monday that both Kyiv and Moscow will have to cede land to end the war.


Business Recorder
an hour ago
- Business Recorder
List of items being exchanged for tariff cut: Islamabad, Tehran agree on text of proposed FTA
ISLAMABAD: Pakistan and Iran have agreed on the text of proposed Free Trade Agreement (FTA) aimed at enhancing bilateral trade and now list of items are being exchanged on which tariff will be reduced to zero or lowered. This was disclosed by Ministry of Commerce while giving a detailed briefing on trade with Iran, issues of barter trade and non-tariff barriers. Commerce Ministry's team, led by Commerce Minister, Jam Kamal Khan, Secretary Jawad Paul and other senior officials shared their views on the proposed agenda and questions raised by the Committee presided over by Senator Anusha Rahman. Pakistan, Iran set $10bn trade target Initially, a disagreement was witnessed between Chairperson Standing Committee and Secretary Commerce on several points which actually related to Federal Board of Revenue (FBR) on closure of Badini crossing point. President, Quetta Chamber of Commerce and Industry(QCCI) shared concerns of Balochistan based businessmen who are facing problems in barter trade with Iran and impact of closure of Badini crossing point in trade with Afghanistan. Secretary Commerce, Jawad Paul and Joint Secretary (FT-II) Maria Kazi acknowledged that Iran has imposed seasonal ban on some Pakistani items like mangoes and rice to protect its own growers. They said that these issues have already been raised with Iranian authorities. Pakistan's exports to Iran worth $ 700 or $ 800 million are not being reflected in the country's total exports as these items are traded through third country or informal trade. On the issue barter trade with Iran, Secretary Commerce stated that the Ministry has drafted a new SRO in place of existing SRO 642(1) 2023 to facilitate barter trade in which five issues of business community have been sorted out as per their demand and recommendations of Joint Senate Standing Committee on Commerce and Finance in its meeting held on July 30, 2025 in Quetta. The following issues were highlighted by the private sector: (i) verification of sanctioned/non-sanctioned products/entities by respective Pakistan Mission abroad; (ii) limited list of exportable/importable products; (iii) principal of 'import followed by export; and (iv) absence of multiparty contract (s), ie, consortium. Secretary Commerce informed the Committee that five amendments to the SRO 642 have been made which are as follows: (i) restriction of annexure of items under barter trade is being done away with and trade of whatever items is allowed under IPO/EPO are also being allowed in barter trade; (ii) Earlier, single entity was allowed for barter trade with Iran but now a consortium can also be established for this purpose; (iii) the condition of NOC for unbanned item from the Mission is being removed and now a private entity or consortium will issue requisite certificate; (iv) the clause of first import and then export with any form of trade (export or import); and (v) and net of goods has been extended to 120 days from existing 90 days. He, however, urged President QCCI, Muhammad Ayub to ensure that trade under barter system with Iran will flourish. Commerce Minister Jam Kamal said he would also visit Iran next month to attend Joint Economic Commission (JEC) in which all trade related issues will be discussed. Joint Secretary (FT-II) Maria Kazi stated that Federal Board of Revenue has agreed to give some allowance on the valuation of products to be traded under barter trade agreement with Iran. Commerce Ministry also expressed willingness to resolve the issue of Badini cross point like Angoor Adda as an amount has already been approved by the CDWP for construction of infrastructure by 2027. However, trade can be restarted through containerization like it was done before closure. Commerce Ministry will also offer financial assistance to Afghan government for infrastructure inside Afghanistan. Commerce Minister and Committee, however, opposed giving a role to Balochistan Development Authority (BDA) in the project because of its repute. The building of Chaman crossing point is ready for inauguration next month. Chairperson Standing Committee expressed her serious annoyance at the leadership of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) for not initiating paper work to establish a joint trade chamber in China to facilitate the Pakistani exporters. According to official press release the committee echoed the demand of chambers for the reopening of the Badini Border, which was opened and closed within 3 months of its opening in 2021 - Senator Anusha Rahman stressed that it is a significant matter requiring resolution at earliest and remarked that the border should be re-opened to facilitate trade that will improve livelihood of local communities as well. Secretary of Commerce explained that trade was suspended due to Afghanistan's government decision of withdrawal of customs staff. Regarding road infrastructure, he informed the committee that the budget for road construction has been approved. The Committee recommended that the Ministry of Commerce and the Quetta Chamber of Commerce take up the matter with Afghan officials for the immediate resolution of the Badini Border re-opening issue. She said facilitation of barter trade with Iran is essential to achieve the target of $ 10 billion bilateral trade as envisaged by the Prime Minister, Shehbaz Sharif. On Pakistan-Iran trade, on the recommendations of Senate Standing Committee and Chambers of Commerce, amendment on Barter trade SRO on Barter were trade finalized to facilitate traders for barter trade with Iran, Afghanistan and Russia. This will allow not only individuals and companies but also consortia to engage in barter transactions. Imports and exports both will be allowed and the net-off period has been extended from 90 to 120 days. Moreover, the limited list of commodities to be imported or exported has been removed. Federal Minister for Commerce emphasized the need to expand Pakistan-Iran trade and involve the private sector to promote economic activity in border regions. It was highlighted by the chamber of commerce Quetta, that Pakistan imports around 150 items from Iran and exports only five items in return. Senator Anusha Rahman highlighted that due to special attention of PM office, the protocol for maize and nuts has now been approved, and the subsequent export potential for Pakistan's maize to China has been identified. Trade and Investment Officer (TIO) in Beijing further informed the committee that the protocols have been sent for approval to the Joint Cooperation Committee (JCC), after which the process for company registration will begin. While discussing the possibility of constructing cold storage facilities and an LPG terminal at the Chaman Border was also discussed. Chambers of Commerce were advised to submit proposals to the EDF for the construction of cold storage facilities. In attendance were Senators Bilal Ahmed Khan, Amir Waliuddin Chishti, Rahat Jamali, Federal Minister for Commerce Jam Kamal Khan, Secretary for Commerce Jawad Paul and other concerned officials of relevant department. Copyright Business Recorder, 2025


Express Tribune
6 hours ago
- Express Tribune
EU's extensive wishlist for China
The author writes on geopolitical issues and regional conflicts. He can be reached at Listen to article Brussels' readout of the 25th China-EU Summit was replete with charges. It's a significantly harsh tone compared to what European Commission (EC) President Ursula von der Leyen struck in April, urging both sides to support a "strong reformed trading system", representing a carefully calibrated signal of cooperation. True, the EU runs a massive trade deficit in goods of €305 billion with China. While this gives a colossal leverage to the bloc and strengthens its bargaining position in bilateral talks, Brussels' extensive wishlist muddles its ambitions to overcome the stumbling blocks, posing challenges to a "mutually beneficial" relationship. Indeed, trade with China has benefited European consumers, providing them greater access to cheap products and supporting 3 million jobs. Mutual investments have augmented European companies' profits. The country's capital inflows in electrical vehicle and battery manufacturing and the China-EU energy cooperation could enhance EU's production capacity and ensure its energy security, bringing economic prosperity and accelerating green development. After all, it was China whose imports and capital influx assisted to prop up Europe's creaking economies during the European sovereign debt crisis. Although it was seen as a strategic move to help itself, China's support at a critical time bolstered European ability to navigate one of the nastiest economic challenges. The EU has been accusing China of flooding the global markets with subsidised overcapacity. Beijing's competitive advantages including affordable labour costs, efficient supply chains and large economies of scale, producing more goods at significantly lower prices, are some of the major drivers behind its export boom. China has leveraged its low-cost production and immense innovation capabilities in advanced industries to make an increasing number of Chinese companies formidable global competitors. By frequently staying ahead in innovation, Beijing continues to lead or is on a par with global leaders in commercial nuclear power, electric vehicles and batteries and make progress in key sectors like robotics, biopharmaceuticals and artificial intelligence. The East Asian economy is a global manufacturing leader and a lynchpin of the global supply chain owing to its decades-old strategic policies that were envisioned to transform the country into a manufacturing powerhouse through industrialisation, skilled labour force, robust infrastructure and integrated supply chains. As a result, China's share in world gross production in 2023 was estimated to be three times of the US, six times of Japan and nine times of Germany. Over the last decade, China has revolutionised its manufacturing industry, from one focusing on output to that centering quality and innovation. Service industry, green development and domestic consumption presently are the core components of the country's economic growth, with value-added manufacturing continuing to rise. Beijing's share in global value-added manufacturing has risen from less than 9% in 2004 to nearly 28% in 2024 and it is forecasted to account for 45% of the world's industrial production by 2030 compared to the 11% of the US. Industrialisation has played a vital role in China's "remarkable" achievement of lifting 800 million out of poverty and contributing to nearly 75% reduction in extreme poverty globally, the top UN sustainable development goal. One of the EU's major concerns is China's export controls on rare earth elements (REEs). While these raw materials are critical in producing a gamut of gadgets like smartphones, laptops and electric vehicles, they can be used to develop missiles, fighter jets and drones. Beijing may argue that its curbs are in line with EU's own practices to prevent the misuse of these dual-use items and contribute to global peace and non-proliferation efforts. As per the Eurostat, Brussels imported 12,900 tons of REEs in 2024 — 46.3% from China, 28.4% from Russia and 19.9% from Malaysia — while exporting 5,500 tons to other countries. The data contests the EC claim that EU relies on China for 98% of its REEs supply and weakens its position against Beijing vis-à-vis latter's trade with Moscow. The EU, or to put it straight, von der Leyen's China approach is markedly different from the European leaders who when visiting Beijing sought to build a "powerful partnership", struck trade deals and pursued to deepen cooperation to tackle climate change, hasten green transition and uphold free trade and multilateral trading system. More recently, Brussels has been looking to chart its own independent path to assert itself as a leading geopolitical and economic player. By trimming its demand list to trade and investment, EU could extract more concessions from China, allowing itself to expand exports and strengthen its commercial footprint in the large Chinese market. A more balanced approach, containing a concise rather than exhaustive list of demands, will further help build a collective response to US President Donald Trump's economic bullying and threats emanating from his actions to the multilateral trading system and rules-based international order. The EU needs to close these loopholes in its foreign policy to engage China on better footing.