July 10, 2007

India's STC to buy 511,000 tonnes wheat
 

India's State Trading Corporation will buy 511,000 tonnes of wheat at US$317-330/tonne on behalf of the government in a wheat import tender originally for 1 million tonnes, a senior government official said Tuesday (Jul 10).

"The wheat will be delivered at Mundra port," the official added.

Global trading firms Toepfer, Cargill and Rias Trading are the three shortlisted bidders who have agreed to sell the wheat at US$317-330/tonne, the official added.

Last week, STC opened the bids received from global trading firms for the tender.

Bids for delivery of 920,000 tonnes of wheat were received from various global firms for the tender of 1 million tonnes.

STC is the agency authorised to import wheat on behalf of the government.