TCP tenders for 250,000 tons wheat

Published August 2, 2008

HAMBURG, Aug 1: The Trading Corporation of Pakistan has issued a new international tender to purchase 250,000 metric tons of wheat, European traders said on Friday.

Bidding deadline was Aug 6. The TCP had only on Tuesday bought 100,000 tons of wheat at $374 a ton c&f in a previous tender for 250,000 tons which closed on July 26.

The latest tender sought wheat of any origin. It was unclear whether the corporation had bought more wheat in the July 26 tender.

The TCP normally offers other bidders a chance to match the lowest price and it had been in price talks with international trading houses this week.Pakistan plans to import 2.5 million tons of wheat this year to raise its stocks. The government has been under pressure to raise wheat imports to cool domestic prices. In early July, Pakistan bought 516,000 tons of wheat at $409.88 a ton, and another 140,000 tons of wheat at $399.45 in June.—Reuters

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