December 18, 2007

India state trading corporation now says gets three bids in wheat tender

India State Trading Corporation got three bids to import around 350,000  tonnes of wheat, a senior company official said on Monday (December 18, 2007).

"Global trading firms Cargill, Glencore and AC Toepfer participated in the import tender," the official, who declined to be named, said.

The bids were received in the range of US$459.90 to US$579.62 per tonne. The highest price was quoted by Toepfer, while the lowest was quoted by Cargill.

India plans to import around 1 million tonnes of wheat by March or April 2008 to bolster its buffer stocks.

A company official earlier said it had received only two bids, from Cargill and Glencore.