January 10, 2013 / 11:39 AM / 5 years ago

India's STC gets highest bid at $323/T in quality wheat tender

NEW DELHI, Jan 10 (Reuters) - India's State Trading Corp. (STC) has received the highest bid at $323 per tonne from a Dubai-based trading firm for its export tender offering higher grade wheat, trade sources said on Thursday.

Last month, STC floated a tender offering 50,000 tonnes of machine cleaned wheat from government warehouses located at Mundra port on the west coast for shipment between Jan. 21 and March 5.

State-run trading firms such as unlisted PEC, STC and MMTC , have been regularly floating export tenders to ship out wheat from overflowing government warehouses.

Earlier, STC received the highest bid at $318.5 per tonne in a similar export tender that offered lower grade grain.

On Jan. 7, PEC received the highest bid at $321 per tonne for a similar export tender offering lower grade grain from government warehouses located on the east coast. (Reporting by Ratnajyoti Dutta; Editing by Jo Winterbottom)

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