KARACHI: In response to Trading Corporation of Pakistan (TCP) wheat import tender, some eight (8) international parties have shown interest in supplying the commodity at prices ranging from $278.50 to $290 per metric ton.
The state-run grain trader is importing the commodity on the directives of the Economic Coordination Committee (ECC) of the Cabinet to avoid the shortage and arrest the soaring prices of wheat in the domestic market.
The TCP floated fourth international tender on September 26 for procurement of some 0.3 million metric tons wheat from international suppliers.
Accordingly, the tender was opened on October 5, 2020 at TCP head office and as many as eight international parties have shown interest in supplying wheat to Pakistan. As per TCP's tender terms and conditions, the bidders were required to quote bids for a minimum quantity of 100,000 metric tons.
Lowest bid was submitted by M/s Aston, which was agreed to supply 120,000 metric ton wheat at $278.50 per metric ton. Second lowest bid was received from M/s Grain Export for 100,000 metric ton at $280 per metric ton. M/s CHS quoted $283 per metric ton against 100,000 metric ton, M/s Promising $283.65, M/s LDC $284.94 per metric ton and M/s Agrocorp shown interest to supply wheat at $286.95 per metric ton.
Similarly, M/s SSOE submitted bid of $289.95 per ton for supply of 100,000 metric ton and M/s Ameropa quoted a prices of $290 per metric ton for 100,000 metric ton.
This was the fourth international wheat import tender conducted by the TCP. First wheat import tender was opened on August 19, 2020 and some nine (9) bidders submitted bids ranging $ 233.85 per metric ton to $296.60 per metric ton and a deal for the import of some 330,000 metric tons wheat was finalized with two suppliers namely M/s Swiss Singapore and M/s Agrocorp at $233.85 per metric ton.
Second wheat import tender was conducted on Sep 15, 2020 and lowest bid was $274 per metric ton. As the quoted prices were much higher than first wheat tender, TCP scrapped the second wheat tender on the directives of federal government.
The TCP opened third wheat import tender on September 23, 2020 for import of 0.3 million tons commodity and received bids amounted to $280.90 to $288 per metric ton. The third wheat tender was also scrapped on higher quotation by the foreign suppliers.
Sources said that so far no decision has taken on the fourth wheat import tender and currently, TCP is evaluating the received bids. After evaluation of the bids TCP will consult with the federal government for final decision on the tender.
Copyright Business Recorder, 2020
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