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CORRECTED-India's STC gets highest bid at $317.21/T in wheat export tender

Source : REUTERS
Last Updated: Tue, Nov 20, 2012 13:00 hrs

(Corrects highest bid to $317.21/T from $317/T in headline and first paragraph. Corrects to say the top bidder for STC was Emmsons Gulf, not Cargill.)

NEW DELHI, Nov 20 (Reuters) - India's State Trading Corp. received the highest bid at $317.21 per tonne from Dubai-based trading firm Emmsons Gulf in its wheat export tender, trade sources said on Tuesday.

In a similar wheat export tender, MMTC Ltd received the highest bid at $317 per tonne from Singapore-based trading firm Glencore.

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)




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