HAMBURG: The lowest price offered in the tender from Pakistan to purchase 640,000 tonnes of wheat which closed on Wednesday was believed to be $377.00 a tonne c&f, European traders said in initial assessments.

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

The lowest offer was said to have been submitted by trading house Solaris.

Pakistan has sought to buy over 1.1 million tonnes of wheat in international tenders in September to cool local prices and improve domestic supplies, last buying some 575,000 tonnes on Sept. 23.

Pakistan buys some 405,000 tonnes wheat in tender at $369.5 per tonne

Traders said these offers were submitted in Wednesday's tender in dollars per tonne c&f by the trading houses which were reported as participating and the tonnes they offered:

Seller Price Tonnes

Solaris $377.00 110,000

Swiss Singapore $382.95 110,000

Cofco $383.32 110,000

Bunge $384.49 115,000

Aston $384.94 110,000

GrainCorp $387.50 110,000

Agrocorp $389.38 105,000

Cargill $389.90 114,000

Promising Int. $392.35 110,000

Dreyfus $394.44 110,000

CHS $396.69 110,000

Grainexport $410.00 110,000

All sellers made offers for wheat sourced optionally from several regions, traders said.

Shipment in the tender is sought between January and February 2022.

Offers are sought for consignments of a minimum 100,000 tonnes from worldwide sources. The TCP reserves the right to buy more or less than the tender volume.