India's STC gets highest bid at $310/T in wheat tender

Last Updated: Thu, Feb 07, 2013 10:20 hrs

NEW DELHI, Feb 7 (Reuters) - India's State Trading Corp. (STC) has received the highest bid at $310.21 per tonne from global trader Glencore for its wheat export tender, trade sources said on Thursday.

Last month, STC floated a tender offering 200,000 tonnes of wheat from government warehouses on the west coast for shipment between Feb. 18 and Mar. 30.

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

On Jan. 23, PEC received the highest bid at $314 per tonne for a similar export tender for the grain from government warehouses located on the west coast. (Reporting by Ratnajyoti Dutta; Editing by Mayank Bhardwaj)

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