KARACHI, Nov 6: The Trading Corporation of Pakistan (TCP) has received 17 bids in response to a tender for the export of 50,000 tons of wheat to be shipped in bulk, bags or containers, a TCP official said on Wednesday.

“The highest bid price was over $124 per ton, while total buying offers were over 200,000 tons. The TCP will take a decision within next two or three days,” the official, who declined to go on record, told Reuters.

The corporation issued a sell tender on October 29 for 50,000 tons of wheat owned by the Punjab provincial government from the 2001-02 (May-April) crop year.

The official said buyers from the Middle East, Europe and Southeast Asian countries participated in the tender through local agents.

“The response is very satisfying and the offered prices are also very attractive,” he said.

In its last tender, TCP sold 30,618 tons of milling wheat at $113.69 per ton FOB Karachi in August.

“The TCP will evaluate the bids at a meeting scheduled for November 8 and take a decision by the end of this week,” the official added.

The TCP official said another tender for 50,000 to 100,000 tons would be issued later this month.—Reuters