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Markets

Pakistan buys some 405,000 tonnes wheat in tender at $369.5 per tonne

  • Pakistan has bought wheat regularly in the global market in recent months to boost domestic supplies and cool prices
Updated 10 Sep, 2021

HAMBURG: The Trading Corporation of Pakistan (TCP) is estimated to have bought some 405,000 tonnes of wheat from optional origins in an international tender to purchase and import up to 550,00 tonnes which closed this week, European traders said on Friday.

The Trading Corporation of Pakistan (TCP) was said to have purchased 240,000 tonnes from trading house Cargill and 165,000 tonnes from CHS all at $369.50 a tonne c&f, traders said.

TCP buys 160,000 tonnes wheat in tender

Cargill had offered the lowest price in the tender on Tuesday and CHS later agreed to match the lowest price, traders said.

Pakistan has bought wheat regularly in the global market in recent months to boost domestic supplies and cool prices. Shipment in the tender was sought between Oct. 1 and Nov. 30.

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