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Pakistan said to buy nearly 340,000 tonnes wheat in tender – traders

A government agency in Pakistan is believed to have bought about 340,000 tonnes of wheat in an international tender for up to 400,000 tonnes, European traders said on Monday.

The Trading Corporation of Pakistan (TCP) was said have bought all the wheat at an estimated $286.75 a tonne c&f, they said. Final confirmation was still awaited.

Trading house GTCS sold 120,000 tonnes, Falconbridge sold 100,000 tonnes and Agrocorp 120,000 tonnes, they said.

The TCP sought wheat from optional worldwide origins and shipment must be organised for arrival of the full volume in Pakistan by March 31, 2021.

Pakistan has repeatedly sought wheat in the global market in the past months in an attempt to improve local supplies and cool prices.

TCP bought about 320,000 tonnes of wheat in an international tender on Nov. 6 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)

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