HAMBURG: The lowest price offered in a Pakistan purchase tender for 90,000 tonnes of wheat was believed to be $394.38 a tonne c&f, European traders said in initial assessments after the tender close on Monday.

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

Traders said these offers were submitted in dollars a tonne c&f by the trading houses that were reported as participating:

Agrocorp $394.38

Cargill $396.50

Dreyfus $398.24

CHS $399.69

All offers were for optional-origin supplies and the full 90,000 tonnes.

A Middle East Gulf company, unknown to mainstream traders, is also believed to have submitted an offer but it was unclear if the offer had been accepted.

Pakistan has issued a series of wheat import tenders in recent months to relieve tight local supplies and cool prices.