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India's PEC gets highest bid at $270.1/T in wheat export tender
February 3, 2014 / 10:23 AM / 4 years ago

India's PEC gets highest bid at $270.1/T in wheat export tender

NEW DELHI, Feb 3 (Reuters) - India’s state-run trader PEC Ltd has received the highest bid at $270.1 per tonne in its wheat export tender, trade sources said on Monday, higher than the government’s new floor price of $260 per tonne.

PEC issued the tender last month offering 100,000 tonnes of the grain from government warehouses for shipments from the east coast between Feb. 10 to March 10.

Earlier, state-run trader MMTC Ltd received the highest bid at $275.2 per tonne for its wheat export tender that offered 60,000 tonnes from the west coast.

These tenders are part of the Indian government’s plan to sell 2 million tonnes of the grain overseas until March. (Reporting by Ratnajyoti Dutta; editing by Malini Menon)

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