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India's STC gets highest bid at $318.5/T in wheat export tender

Source : REUTERS
Last Updated: Thu, Jan 10, 2013 16:30 hrs

NEW DELHI, Jan 10 (Reuters) - India's State Trading Corp. (STC) has received the highest bid at $318.5 per tonne from a Cyprus-based global firm for its wheat export tender, trade sources said on Thursday.

Five global firms took part in the tender that offered 100,000 tonnes from government warehouses located at Mundra port on the west coast.

The quantity of wheat -- with normal quality specifications -- will have to be shipped between Jan. 21 and March 05.

The tender was orginally floated on Nov. 30, but revised last month by scaling down the quantity offered and extending the shipment period.

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

On Jan. 7, PEC received the highest bid at $321 per tonne for a similar export tender offering the grain from government warehouses located on the east coast. (Reporting by Ratnajyoti Dutta; Editing by Jo Winterbottom)



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