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STC wheat tender stands “lapsed” - source

STC wheat tender stands “lapsed” - source
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First Published: Mon, Dec 24 2007. 12 52 PM IST
Updated: Mon, Dec 24 2007. 12 52 PM IST
Reuters
New Delhi: A wheat import tender issued by India’s State Trading Corp. has lapsed with no decision on purchases from three trading firms before the validity period expired, a government source said on Monday.
“The tender’s validity has expired on 27 November. The tender stands lapsed,” a senior government official close to the deal told Reuters.
Three international trading firms, Cargill, Glencore and Toepfer had offered to sell 330,000 tonnes of wheat at sky-high prices between $459-$599 a tonne, reflecting shrinking supplies and a surge in US wheat futures on strong export demand.
The source said that no talks had been held with any of the three bidders for extending the validity period.
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First Published: Mon, Dec 24 2007. 12 52 PM IST
More Topics: STC | Wheat | Cargill | Glencore | Toepfer |