AIRLINK 59.40 Decreased By ▼ -0.30 (-0.5%)
BOP 6.28 Increased By ▲ 0.02 (0.32%)
CNERGY 4.28 Increased By ▲ 0.01 (0.23%)
DFML 15.84 Increased By ▲ 0.14 (0.89%)
DGKC 69.70 Increased By ▲ 0.50 (0.72%)
FCCL 18.48 Increased By ▲ 0.02 (0.11%)
FFBL 26.80 Increased By ▲ 0.05 (0.19%)
FFL 9.22 Decreased By ▼ -0.06 (-0.65%)
GGL 10.25 Decreased By ▼ -0.05 (-0.49%)
HBL 116.90 Increased By ▲ 1.00 (0.86%)
HUBC 114.79 Increased By ▲ 0.39 (0.34%)
HUMNL 6.76 Decreased By ▼ -0.04 (-0.59%)
KEL 4.89 No Change ▼ 0.00 (0%)
KOSM 4.65 No Change ▼ 0.00 (0%)
MLCF 38.40 Increased By ▲ 0.01 (0.03%)
OGDC 124.95 Decreased By ▼ -0.35 (-0.28%)
PAEL 21.78 Increased By ▲ 0.22 (1.02%)
PIAA 10.90 Increased By ▲ 0.03 (0.28%)
PIBTL 6.09 Increased By ▲ 0.07 (1.16%)
PPL 112.69 Decreased By ▼ -1.41 (-1.24%)
PRL 28.11 Increased By ▲ 0.21 (0.75%)
PTC 10.96 Increased By ▲ 0.06 (0.55%)
SEARL 50.45 Decreased By ▼ -1.25 (-2.42%)
SNGP 67.00 Decreased By ▼ -1.26 (-1.85%)
SSGC 11.28 Decreased By ▼ -0.14 (-1.23%)
TELE 7.82 Increased By ▲ 0.02 (0.26%)
TPLP 11.63 Increased By ▲ 0.03 (0.26%)
TRG 73.55 Increased By ▲ 0.68 (0.93%)
UNITY 23.46 Decreased By ▼ -0.09 (-0.38%)
WTL 1.30 No Change ▼ 0.00 (0%)
BR100 6,649 Increased By 0.2 (0%)
BR30 22,572 Increased By 2.6 (0.01%)
KSE100 64,654 Increased By 76 (0.12%)
KSE30 21,929 Increased By 39.8 (0.18%)

HAMBURG: Pakistan’s tender to buy 300,000 tonnes of wheat closed on Monday with the lowest offer believed to be $398.92 a tonne c&f, European traders said in initial assessments.

Only one trading house, Agrocorp, was believed to have submitted offers.

The state agency, the Trading Corporation of Pakistan (TCP), is still considering the offers and no purchase has been reported, traders said.

Pakistan unexpectedly added another term to its tender, including a requirement for an extra quality inspection on wheat arrival and unloading in Pakistan, traders said. This would be in in addition to the usual quality inspection at the port of loading.

"This caused a lot of uncertainty, raising the prospects of cargoes being rejected, and for me this is why the participation was so low," one grain trader said.

Agrocrop offered the $398.92 a tonne c&f for 115,000 tonnes of wheat for shipment to the port of Karachi and $409.92 a tonne c&f for 100,000 tonnes for shipment to Gawadar port, traders said.

Uncertainly about the changed tender terms was a reason for low participation, traders said.

Rapid wheat shipment is sought in October and offers had to be for at least 100,000 tonnes.

The tender was issued after massive flooding in Pakistan damaged farmland and crops, sweeping away homes, bridges, roads and livestock, causing an estimated $30 billion of damage.

Comments

Comments are closed.

Ch K A Nye Sep 27, 2022 07:48am
This is what happens when terms and conditions are not in line with international norms.
thumb_up Recommended (0)