August 8, 2006

India MMTC issues tender to import up to 120,000 tonne wheat

India's state-owned trading house MMTC Ltd Tuesday (Aug 8) issued a tender to import up to 120,000 tonnes of wheat for delivery in September and October.

The company, however, reserves the right to buy a lower or higher quantity depending on its requirements.

MMTC is seeking wheat at Vizag, Tuticorin, Mangalore and Kolkata ports in parcels of 25,000 tonnes to 50,000 tonnes. The bids have to be submitted by Aug 17 and must be valid for consideration until Aug 28.

Late Monday, MMTC said it is likely to issue a tender for the import of around 120,000 tonnes of wheat in a day or so.

MMTC has already purchased 50,000 tonnes of wheat of Black Sea origin at US$179/tonne, on a cost and freight basis, from its Singapore-based unit MTPL for delivery by end-September.

Monday, another government-run company, State Trading Corp., finalized the import of 330,000 tonnes of wheat around US$210-$212/tonne, C&F, from Swiss-based trading house Agrico Trade and Finance SA for delivery in September and October.