Saudi Arabia increases wheat imports by 28% despite price surge

Saudi Arabia has significantly increased its wheat purchases despite a sharp rise in global prices. The General Food Security Authority (GFSA) acquired around 683,000 tons of 12.5% protein wheat in its latest international tender, marking a 28% increase from the initially sought 535,000 tons. The wheat is scheduled for delivery between November and December 2026, with eligible origins including the EU, Black Sea region, North and South America, and Australia.

The contracts were awarded at prices ranging from $334.6 to $348 per ton C&F, significantly higher than the previous tender in July, where prices were between $267.7 and $272.8 per ton. Notably, Saudi Arabia had attempted to purchase wheat in early September but declined due to high offer prices. However, in the latest tender, the country not only returned to the market but also increased its purchase volume by nearly a third.

The wheat will be used to replenish strategic reserves and supply the milling sector. The larger purchase despite sharply higher prices underscores sustained import demand from one of the Middle East’s key wheat buyers.