Lowest bid in Pakistan wheat tender comes in at $339/t
The lowest offer in Pakistan’s tender to purchase 185 thsd tons of wheat was reported at $339.36/t C&F. According to traders, the bid was submitted by Bunge for around 60 thsd tons.
The tender is being held by the state-run Trading Corporation of Pakistan. No purchase has been confirmed yet, with a decision expected in the coming days.
Other offers ranged from $341.88/t to $354.83/t C&F. Participants included Olam, Ameropa, Agrocorp, CHS, LDC, Soufflet and other international trading companies.
Earlier in September, TCP purchased 365 thsd tons of wheat at $348.83/t C&F in a previous tender. The lowest bid in the latest tender is therefore almost $9.5/t below the price of the previous purchase.
The tender comes amid disruptions to seaborne supplies of cheaper wheat from the Black Sea region, prompting Pakistan to consider alternative origins at higher prices.
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