State Trading Corporation has got the highest bid offer of $302 per tonne from German grain trading house Toepfer International for its wheat tender, sources said on Friday.
Toepfer has offered 35,000 tonne of wheat. STC has received the lowest bid of $260.25 per tonne from Louis Dreyfus, which has offered 55,000 tonne. In all, the state-run trading firm has got 12 bids for the global wheat export tender it issued last month, offering 100,000 tonne. Similarly, MMTC has received six bids in the range of $265 to $280 per tonne for its global wheat export tender, a government source said on Friday. Bidders were Louis Dreyfus, Adani, Wilmar, Glencore and Ameropa, and one bid was declared invalid during scrutiny.
Separately, MMTC has issued a tender to sell 30,000 tonnes of wheat for export, it said in a statement on Friday. The bidding deadline is August 24 and the wheat is stored at warehouses at Vishakhapatnam, it added.
Last month, MMTC floated a tender to sell 50,000 tonnes of milling wheat for export and has received six bids ranging between $265-$280 per tonne for it. PEC has received 15 bids in the range of $270-$297 per tonne for its wheat export tender. The highest bid was by Singapore-based Starcom. The state-run agency had last month floated a global tender to export 60,000 tonne of wheat. The tenders were part of the government?s strategy to offload stocks from official reserves to ease storage.
Trade sources had told FE on Thursday that at $295 a tonne, freight on board, the current price of Indian wheat was much lower than comparable global varieties, which were ruling around $325 a tonne. This means the government may not have to offer subsidy to export wheat.
