KARACHI, Aug 9: The Purchase and Price Evaluation Committee of the Trading Corporation of Pakistan has decided to award a quantity of 484,000 tons of wheat to four parties at an average price of $210 per ton of C&F Karachi.

According to the TCP here on Monday, seven parties had offered 1.174 million tons of white wheat in response to the fresh international tender for the import of 500,000 tons of wheat to meet domestic requirements.

The lowest bid was quoted at $198.30 per ton, while the highest at $230 per ton at a bidding held at the corporation's head office on Saturday. Cargil Inc of Switzerland has won the award for 84,000 tons, the Australia Wheat Board for 100,000 tons, Agrico Trade and Finance of Switzerland for 150,000 tons and Louis Dreyfus Corporation of the US for 150,000 tons.

The committee considered the bids which were according to the IFB and fulfilled the requirements of specifications of wheat and other tender terms and conditions, including bid bond.

The corporation said the committee headed by the TCP chairman with representatives from the commerce, finance and Minfal had evaluated the bids on Sunday and Monday.

Initially, 14 parties participated in the tender and five of them regretted to offer the bids at a later stage. Two of the remaining bidders did not submit bid bonds.

The TCP is intended to buy soft white or medium hard white wheat US grade 2 or better or equivalent Australian, Canadian or other origin from worldwide sources. The successful bidders are required to furnish performance guarantees within seven days to enable the TCP to open letter of credit in their favour.

The first shipment is expected to arrive in Karachi by mid-September 2004, while the entire quantity in several shipments is due to reach Karachi by the end of October 2004.

TCP will shortly float next tender for 500,000 tons wheat. The allocation of imported wheat has been decided by the government as 250,000 tons for Sindh, 115,000 tons for NWFP and 100,000 tons for Balochistan. -APP