STC floats global tender to import wheat

STC floats global tender to import wheat
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First Published: Mon, Dec 10 2007. 03 39 PM IST
Updated: Mon, Dec 10 2007. 03 39 PM IST
PTI
New Delhi: State Trading Corporation on 10 December floated a global tender to import an unspecified quantity of wheat from overseas to boost government’s buffer stocks.
The tender will close on 17 December and the bids will be opened on the same day. Offers must be valid for acceptance till 22 December, by which date STC would take a decision.
As per the tender document, STC has sought delivery of wheat by 15 April , 2008 at Mundra, Kakinada, Kandla, Chennai, Vishakhapatnam, Tuticorin, Cochin and Mumbai ports. It has specified the quantity per ship to be delivered at each port. The tender does not specify the number of ships for a port, although the total quantity mentioned for all the ports is 3.5 lakh tonnes.
The government, which is currently importing 10 lakh tonnes of wheat to augment buffer stock, had contracted 4,92,500 tonnes of wheat through MMTC and PEC last month.
STC may import the remaining 5 lakh tonnes if prices are found attractive, a government official said.
In 2007-08, the government plans to import 23 lakh tonnes of wheat. STC had contracted to import 13.06 lakh tonnes of wheat. While one contract was for buying 5.11 lakh tonnes at an average price of $325.5 a tonne, the second agreement was for importing 7.95 lakh tonnes at an average price of $389.45.
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First Published: Mon, Dec 10 2007. 03 39 PM IST
More Topics: Wheat | STC | MMTC | Tender | Money Matters |