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India's STC gets highest bid at $314/T in wheat tender

Source : REUTERS
Last Updated: Wed, Jan 23, 2013 09:50 hrs

NEW DELHI, Jan 23 (Reuters) - India's State Trading Corp. (STC) has received the highest bid at $314.34 per tonne from global trader Glencore for its wheat export tender, trade sources said on Wednesday.

Last month, STC floated a tender offering 40,000 tonnes of wheat from government warehouses located at Chennai port on the east coast for shipment in February.

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. 17, 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 Jo Winterbottom)




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