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India's PEC gets highest bid at $312/T in wheat tenders

Source : REUTERS
Last Updated: Wed, Feb 06, 2013 13:10 hrs

NEW DELHI, Feb 6 (Reuters) - India's state-run PEC Ltd received the highest bid at $312 per tonne from an Australian trading company in its latest wheat export tenders, trade sources said on Wednesday, lower than the last known price received by another company.

Last month, PEC floated two separate tenders offering a total of 90,000 tonnes of milling wheat for shipments between Feb. 11 to Mar. 10 from government warehouses located on the east coast.

Both tenders were won by the same firm with the same bid.

State-run trading firms such as PEC, State Trading Corp. and MMTC, have been floating export tenders to ship out wheat from overflowing government warehouses. On Jan. 23, STC received the highest bid at $314 per tonne for a similar wheat export tender that offered 40,000 tonnes on the east coast. (Reporting by Ratnajyoti Dutta; Editing by Jo Winterbottom)




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