India's MMTC gets highest bid at $304/T in wheat export tender

Last Updated: Tue, Mar 26, 2013 10:17 hrs

NEW DELHI, March 26 (Reuters) - India's state-run MMTC Ltd received the highest bid at $304 per tonne from global trader Noble Grain in its latest wheat export tender, trade sources said on Tuesday.

Last week, MMTC floated the tender to sell 65,000 tonnes of wheat for shipments in April from warehouses located on the west coast as part of the government's plan to cut huge stocks before the new harvest starts arriving in April.

State-run companies such as MMTC, State Trading Corp. and PEC have been floating export tenders to ship out wheat from overflowing government warehouses since July 2012.

Earlier, STC received the highest bid at $302 per tonne in a similar export tender, trade sources said. (Reporting by Ratnajyoti Dutta; editing by Malini Menon)

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