KARACHI: In response to the Trading Corporation of Pakistan (TCP) wheat import tender, some seven international suppliers have shown interest in supplying the commodity at a price ranging from $332.44 to $352.95 per metric ton. The state-run grain trader is importing wheat on the directives of the federal government to avoid wheat shortage in the domestic market as the country’s last year wheat production was less than demand.
Following the advice of Economic Coordination Committee (ECC) of the cabinet so far TCP has imported some 2 million metric tons wheat for the domestic consumption. Two more wheat shipments of 55,000 metric tons each are expected to reach Pakistan during next week.
On February 18, 2021, the state run grain trader issued another wheat import tender and invited bids for procurement of 300,000 metric ton (5 percent more or less at seller's option) wheat in bulk through worldwide sources on Cost and Freight (C&F) basis to avoid shortage and control the rising prices of the commodity in the country. Bidders were allowed to make bids for a minimum quantity of 100,000 metric tons (+/- 5 percent) and part shipment is also allowed with minimum shipment of 50,000 metric ton.
The TCP’s international wheat import tender for the supply of 300,000 metric ton was opened on March 2, 2021 and overall some seven bidders/suppliers participated in the tender and quoted prices ranging from $332.44 per metric ton to $352.95 per metric ton.
According to evaluation report made available to Business Recorder, the lowest bid was submitted by M/s Louis Drefus Company, which offered to supply 114,000 metric tons of wheat at $332.44 per metric tons. M/s Falconbridge was the second lowest bidder with a bid price of $335.99 per metric ton.
M/s Vittera B.V quoted $336.90 per metric ton and M/s Swiss Singapore Overseas Enterprises offered wheat at $338.34 per metric ton. M/s Agro Industrial Corporation offer was $345.00 per metric ton, M/s Cargil International quoted $350 per metric ton and M.s Asto Agro Industrial offered to supply wheat at $352.95 per metric ton.
Sources said that for so far no decision has been taken on the wheat import tender as the state run grain trader is waiting for the green signal from the federal government. Offers will be valid for Ninety Six (96) hours from opening time of the bids.
As per tender’s term and conditions, if TCP awarded 300,000 metric tons, the successful bidder will be required to make three shipments of minimum 50,000 metric ton each within two weeks (excluding voyage time) from the date of opening of Letter of Credit. Whereas, the balance three shipments of minimum 50,000 metric tons each will follow within fifteen days of first three shipments.
Successful bidder, if awarded 200,000 metric ton, will be required to make two shipments of minimum 50,000 metric ton each within two weeks from the date of opening of LC. Whereas, the balance two shipments of minimum 50,000 metric tons each will follow within 15 days of first two shipments.
Successful bidder if awarded 100,000 metric ton, will be required to make one shipment of minimum 50,000 metric ton within two weeks from the date of opening of L/C. Whereas, the balance one shipments of minimum 50,000 metric tons will follow within fifteen days of first shipment.
Copyright Business Recorder, 2021
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