June 5, 2012

India's STC wheat export tender receives six bids

The global wheat export tender of India's State Trading Corp. (STC) has received six bids ranging between US$150-$230 per tonne.

Dhaka-based trading company Rokeya Flour Mills bid the lowest price, while Netherlands-based Glencore Grains quoted the highest in the tender, they added. Earlier, sources had said bidders in the tender included the Indian arms of global trading companies Cargill and Toepfer.

On May 11, STC floated the global tender for private traders for exports as part of the government's strategy to trim huge wheat stocks.