ABW Ltd, one of Australia's most prominent wheat exporters and long-term supplier of wheat to Iraq, announced today (23 December) its intention to bid for the next contract to suply Iraq with wheat.

A report today by Dow Jones said ABW expects to fill its current contract for 650,000 metric tons of wheat towards the end of February.

This announcement follows a report in the Sydney Morning Herald suggesting that Australia's wheat trade with Iraq is threatened by an argument over shipping costs following a UN investigation into corruption and kickbacks.

In response, Peter McBride, a company spokesperson, told reporters that ABW missed out on the last contract, which was given to US suppliers, "because they had a better price". He stated that the company had good relations with the Iraqi Grains Board.