India's PEC gets highest bid at $312/T in wheat tender

Last Updated: Mon, Feb 18, 2013 11:10 hrs

NEW DELHI, Feb 18 (Reuters) - India's state-run PEC Ltd received the highest bid at $312 per tonne for its wheat export tender from a London-based trading company, trade sources said on Monday, marginally higher than the last known price received by another state-run trading firm.

Last month, PEC floated a tender offering 125,000 tonnes of milling wheat for shipments between Feb. 20 to March 31 from government warehouses located on the east coast.

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

Last week, MMTC received the highest bid at $311 per tonne for a similar wheat export tender that offered 150,000 tonnes on the east coast. (Reporting by Ratnajyoti Dutta; editing by Malini Menon)

More from Sify: