Two state-run Indian trading cos get highest bids at $317/T in wheat export tender

Last Updated: Tue, Nov 20, 2012 11:30 hrs

NEW DELHI, Nov 20 (Reuters) - Two state-owned trading companies received the highest bids at $317 per tonne in their respective wheat export tenders, trade sources said on Tuesday.

State Trading Corp. got seven bids with global trading company Cargill quoting the highest, while Singapore-based trading firm Glencore bid the highest in MMTC Ltd's tender which received four bids.

State-run trading companies such as STC, MMTC and PEC have been floating export tenders to ship out wheat from overflowing government warehouses.

Last month, STC floated a tender offering 40,000 tonnes from the warehouses located in Chennai port, while MMTC offered 30,000 tonnes from the port of Mormugao on the west coast.

The quantities will have to be shipped by December.

On Nov. 19, PEC received the highest bid at $319.15 per tonne from Toepfer in its wheat export tender. (Reporting by Ratnajyoti Dutta; Editing by Anupama Dwivedi)

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