TCP gets offers in 500,000 tonne of wheat tender

HAMBURG: The lowest price offered in the tender from Pakistan to purchase 500,000 tonnes of wheat which closed on Wednesday was believed to be $372.00 a tonne c&f thought to be for Russian-origin wheat, European traders said in initial assessments.

Around nine trading houses were initially assessed to be participating in the tender. Offers were optional origin but Russian wheat was expected to dominate the sourcing of tender participants, they said.

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