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India's MMTC gets highest bid at $322.13/T in wheat export tender

Source : REUTERS
Last Updated: Tue, Nov 27, 2012 15:40 hrs

NEW DELHI, Nov 27 (Reuters) - India's state-run MMTC Ltd has received the highest bid at $322.13 per tonne from global trading firm Toepfer in its latest wheat export tender, trade sources said on Tuesday.

Earlier this month, MMTC floated the tender to sell 50,000 tonnes of milling wheat for export from the west coast by Dec. 31, as part of the government's strategy to trim huge stocks at its warehouses.

On Monday, two state-run trading companies - unlisted PEC Ltd and State Trading Corp of India - got highest bids at $324 a tonne and $322.22 a tonne respectively in their latest export tenders.

These three firms have been floating export tenders to ship out wheat from overflowing government warehouses.

(Reporting by Ratnajyoti Dutta; Editing by Jo Winterbottom)



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