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India's MMTC gets highest bid at $275.2/T in wheat export tender
February 3, 2014 / 10:08 AM / 4 years ago

India's MMTC gets highest bid at $275.2/T in wheat export tender

NEW DELHI, Feb 3 (Reuters) - India’s MMTC Ltd has received the highest bid of $275.2 per tonne for its 60,000 tonne wheat export tender, trade sources said on Monday, more than the government’s floor price of $260 per tonne.

There were three bidders for the global tender, said one of the sources.

The state-run trader issued the tender last month offering the grain from government warehouses for shipment by March 10 from the country’s west coast.

The tender is part of the government’s plan to sell 2 million tonnes of the grain overseas until March, as it attempts to trim bulging stocks. (Reporting by Ratnajyoti Dutta; editing by Malini Menon)

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