NEW DELHI, April 5 (Reuters) - State-run trader MMTC Ltd has not received any bids in its latest wheat export tender, trade sources said on Friday.
India is considering lowering the floor price for wheat sales to private traders for export from state warehouses, government sources said on Thursday, after State Trading Corporation was forced to cancel a wheat export tender. [
Earlier this week, MMTC floated the tender to sell 65,000 tonnes of wheat for shipments by May 9 from warehouses located on the west coast as part of the government's plan to cut huge stocks as the new harvest starts arriving in April.
State-run companies such as MMTC, STC and PEC have been floating export tenders to ship out wheat from overflowing government warehouses since July 2012. (Reporting by Ratnajyoti Dutta; Editing by Nidhi Verma)