KARACHI: In response to the Trading Corporation of Pakistan (TCP) wheat import tender, some 4 international suppliers have shown interest to supply the commodity at a price ranging from $274 to $277 per metric ton.

The TCP is importing wheat on the directives of the federal government as the country is facing some shortage of commodity due to lower crop output in the previous season. Economic Coordination Committee (ECC) of the cabinet approved import of some 1.5 million tons wheat through TCP, however, now the quantity has reduced to 0.5 million tons as private sector is also import wheat for local consumption.

On September 4, 2020, the state run grain trader issued second wheat import tender and invited bids for supply of 170,000 (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.

The TCP's international wheat import tender for the supply of 170,000 metric ton was opened on Tuesday and overall some four international bidders/suppliers participated in the tender and quoted prices ranging from $274 per metric ton to $277 per metric ton. Out of four bids, two parties submitted conditional bids, sources said.

According to tender details made available to Business Recorder, the lowest bid was submitted by M/s CHS Inc, which offered to supply 50,000 metric tons (10 percent plus or minus) of wheat at $274 per metric tons. M/s Grain Corp was the second lowest bidder, which offered to supply 55,000 metric tons (5 percent plus or minus) of wheat at a price of $274.36 per metric ton. M/s Agrocorp quoted a price of $275 per metric ton for 60,000 metric tons (5 percent plus or minus) wheat and M/s Astin Agro Industrial offered 50,000 metric tons (5 percent plus or minus) at $277 per metric ton.

Copyright Business Recorder, 2020