NEW DELHI, Feb 12 (Reuters) - India's state-run MMTC Ltd
received the highest bid at $311 per tonne from the
Netherlands-based trading company Louis Dreyfus for its latest
wheat export tender, trade sources said on Thursday.
MMTC floated the tender last month to sell 150,000 tonnes of
wheat for shipments between Feb. 20 and Mar. 31 from warehouses
located on the east coast as part of the government's plan to
reduce huge stocks before the new harvest.
State-run companies such as MMTC, State Trading Corp.
and PEC have been regularly floating export tenders to
ship out wheat from overflowing government warehouses.
The latest figures show stocks at government warehouses as
on Feb. 1 were 30.8 million tonnes, more than four times the
On Feb. 12, MMTC received the highest bid at $305 per tonne
from Glencore for a similar wheat export tender which offered
the grain from government warehouses located on the west coast.
(Reporting by Ratnajyoti Dutta; Editing by Jo Winterbottom)