India's STC gets highest bid at $322/T in wheat export tender

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SummaryIndia's State Trading Corp (STC) has received the highest bid at $322 per tonne from Dubai-based trading firm Emmsons Gulf.

India's State Trading Corp (STC) has received the highest bid at $322 per tonne from Dubai-based trading firm Emmsons Gulf for its wheat export tender, trade sources said on Friday.

Last month, STC floated two global tenders offering 190,000 tonnes of milling wheat for shipments from government warehouses located on the east and west coasts.

The bids received were for 40,000 tonnes of wheat offered at the Chennai port on the east coast, which will be shipped in January, the sources said.

They added the remaining quantity, offered on the west coast, has been reduced by 50,000 tonnes with an extension in the bids closing date. Now, the bids for the rest 100,000 tonnes will close on Jan 10.

Last week, PEC received the highest bid at $324.15 per tonne from Dubai-based trading firm Al Ghurair for its 125,000 tonnes wheat export tender. State-run trading firms such as unlisted PEC, STC, and MMTC have been floating export tenders to ship out wheat from overflowing government warehouses.

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