September 6, 2006

 

India's STC receives 8 bids in 1.67 million tonnes wheat import tender

 

 

India's State Trading Corp (STC) has received eight bids from domestic and foreign companies on its tender to import 1.67 million tonnes of wheat, an STC official said Tuesday (Sep 5).

 

Glencore's bid to sell 130,000 tonnes of wheat to STC at US$223.75/tonne is the lowest, said traders participating in the bidding. The total volume offered by Glencore is 650,000 tonnes, the highest by any single company, they added.

 

There wasn't any single bidder for the entire volume of wheat sought to be imported by the Indian state-run company.

 

The total quantity offered in the tender by the eight bidders is 2.726 million tonnes in the price range of US$223.75-270/tonne, the STC official said.

 

He confirmed that Glencore is the lowest bidder in term of price quoted and highest in terms of volumes offered.

 

He said wheat of five or six origins including the US, Canada, Argentina, European Union and countries around the Black Sea has been offered in the tender.

 

Glencore offered wheat in the price range of US$223.75-250/tonne, cost and freight, the official said.

 

Australia's AWB Ltd has offered 630,000 tonnes wheat at around US$225-257/tonne, he said.

 

Hamburg-based AC Toepfer International has offered 540,000 tonnes wheat around US$227-267/tonne, he said.

 

Concordia has offered 180,000 tonnes wheat around US$232/tonne-US$246/tonne, he said.

 

Adani Global has offered 282,000 tonnes wheat around US$239.51-251.11/tonne, the STC official said.

 

Another trading firm Cargill has offered 220,000 tonnes wheat around US$244-261/tonne, he said.

 

Agrico Trade and Finance SA has offered 100,000 tonnes wheat around US$242.9-259.9/tonne, he said.

 

Louis Dreyfus has offered 124,000 tonnes wheat including 35,000 tonnes at Tuticorin around US$270/tonne.

 

The official said these are approximate figures and the final table of all the bids is being prepared.