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HAMBURG: A government agency in Pakistan is believed to have rejected offers and made no purchase in an international tender for 300,000 tonnes of wheat which closed this week, European traders said on Friday.

Only one trading company had presented offers in the tender from the Trading Corporation of Pakistan (TCP) which closed on Monday.

Traders said the low participation was due to uncertainty about new tender terms, especially a condition compelling a second quality inspection on wheat unloading in Pakistan in addition to the quality inspection in the port of loading.

Only one participant in country’s wheat tender

Traders said the TCP had indicated a new wheat tender would be issued soon with amended terms and conditions.

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.

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