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Pakistan gets offers in 500,000 tonne wheat tender

The lowest price offered in the tender from Pakistan to purchase 500,000 tonnes of wheatwhich closed on Monday was believed to be $383.50 a tonne c&f, European traders said in initial assessments.

The state agency Trading Corporation of Pakistan (TCP) is still considering the offers and no purchase has been reported, traders said.

Traders said these offers were submitted in the tender in dollars a tonne c&f by the trading houses which were reported as participating and the tonnes offered:

Seller Price Tonnes

Cargill $383.50 120,000

Agrocorp $385.92 105,000

Falconbridge $385.99 110,000

GrainCorp $389.75 109,800

CHS $390.00 110,000

Solaris $393.30 110,000

Pakistan has bought wheat regularly in the global market in recent months in an effort to boost domestic supply and cool prices.

Shipment in the new tender is sought between Nov. 11 and Dec. 30. Offers are sought for consignments of a minimum 100,000 tonnes.

The TCP reserves the right to buy more or less than the tender volume. The wheat can be sourced from optional origins.

In its last wheat tender on Sept. 10, the TCP bought 405,000 tonnes from optional origins all at $369.50 a tonne c&f.
Source: Reuters (Reporting by Michael Hogan, editing by Louise Heavens)

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