Pakistan gets offers in 400,000 tonne wheat tender – trade
The lowest price offered to purchase 400,000 tonnes of wheat in the tender from Pakistan, which closed on Wednesday, was believed to be $286.75 a tonne c&f, European traders said in initial assessments.
State agency Trading Corporation of Pakistan (TCP) is still considering the offers and no purchase has been reported, traders said.
Pakistan has repeatedly sought wheat in the global market in the past months in an attempt to improve local supplies and cool prices.
Traders said the following offers were submitted by export houses in the tender, with prices in dollars per tonne c&f and volume offered in tonnes:
Falconbridge 100,000 tonnes at $286.75 Agrocorp 115,000 tonnes at $287.63 Aston 110,000 tonnes at $287.95 GTCS 120,000 tonnes at $288 Swiss Singapore Overseas 100,000 tonnes at $289.49 Cargill 120,000 tonnes at $296 CHS 110,000 tonnes at $298.00
The lowest price was believed to have been offered for wheat from the European Union/Serbia.
The TCP is seeking wheat from optional worldwide origins and shipment must be organised for arrival of the full volume in Pakistan by March 31, 2021.
Only on Nov. 6 had the TCP bought about 320,000 tonnes of wheat in an international tender seeking the same amount.
But traders had expected more purchases to be made as they believed Pakistan’s import requirements had still not been met.
Source: Reuters (Reporting by Michael Hogan; Editing by Devika Syamnath)