Bidders offer to supply foreign wheat at $397-488 a tonne

Bidders offer to supply foreign wheat at $397-488 a tonne


New Delhi: The Centre received offers in the range of $397-488 a tonne for imported wheat on 19 November, from eight firms that participated in MMTC’s tender.

“Eight companies, including Glencore, Cargill and Concordia Agritrading participated in the bidding and offered imported wheat at $397.03 and $487.95 a tonne C&F," a source said.

However, the tender document of a bidding firm — Starcom was rejected by MMTC, the source said, adding that AWB India — a firm floated by Australia Wheat Board, participated for the first time in the tender this year.

MMTC had, on 12 November, floated a global tender for importing unspecified quantity of wheat limiting the vessel size to ports’ handling capacity. The decision on the tender would be taken by 24 November, MMTC had said.

The firms have quoted the lowest price for supply at Mundra port, the source said.

Glencore has offered to supply the maximum quantity of 3.25 lakh tonnes at $407 a tonne at Mundra while Cargill has offered 65,000 tonnes at lowest price of $397.03 a tonne (Rs1,560 a quintal) at the same port.

All eight bidders together have offered to supply a maximum of 10.15 lakh tonnes of wheat, the source said.

To augment the buffer stocks, the government has planned to import 10 lakh tonnes of more wheat this year through MMTC, PEC and STC while over 13 lakh tonnes have already been contracted through STC in the last two bids.

STC had cancelled the first bid citing high prices when global suppliers offered to sell 3 lakh tonnes at $263 per tonne.

The wheat buffer stock stood at 101.21 lakh tonnes as of 1 October against the stipulated 110 lakh tonnes.