HAMBURG: The lowest price offered in the tender from Pakistan to purchase 300,000 tonnes of wheat which closed on Tuesday was believed to be $285.97 a tonne c&f for August shipment, European traders said in initial assessments.

The lowest offer for nearby shipment in April was said to be $323.97 a tonne c&f. Both offers were said to have been submitted by trading house Dreyfus.

The state agency Trading Corporation of Pakistan (TCP) is still considering the offers and no purchase has been reported, traders said. The TCP is seeking wheat for five shipment periods in April, May, June, July and August 2021.