HAMBURG: The lowest price offered in the tender from Pakistan to purchase 500,000 tonnes of wheat which closed on Wednesday was believed to be $373.00 a tonne c&f, European traders said in initial assessments.

An estimated eight trading houses were believed to be participating in the tender.

The state-run Trading Corporation of Pakistan (TCP) is still considering the offers and no purchase has been reported, traders said.

Traders said Aston submitted an offer of 120,000 tonnes at $373.00 c&f, CHS 125,000 tonnes at $384.40, Solaris 120,000 tonnes at $384.91, Falconbridge 120,000 tonnes at $387.79, Cargill 120,000 tonnes at $393.00, Ameropa 110,000 tonnes at $394.00, Agrocorp 110,000 tonnes at $397.38 and Bunge 110,000 tonnes at $414.15.

Offers must remain valid for 80 hours after submission. All offers involved wheat from several origins.

The tender was issued after massive floods in September damaged farmland and crops, sweeping away homes, bridges, roads and livestock, causing an estimated $30 billion of damage. But the country’s last tender on Sept 30 ended without a purchase in thin participation due to uncertainty about new tender terms, especially a condition compelling a second quality inspection on wheat unloading in Pakistan in addition to the quality inspection in the port of loading.

Shipment in Wednesday’s tender is sought in 2022 in consignments of at least 100,000 tonnes between Nov 13-Nov 18, Nov 21-Nov 26, Nov 29-Dec 4, Dec 7-Dec 12 and Dec 15-Dec 20. Shipments must be organised so that all wheat arrives in Pakistan by Jan 10, 2023.

Published in Dawn, October 27th, 2022