HAMBURG: A government agency in Pakistan is believed to have bought an estimated 186,000 tonnes of wheat in an international tender for up to 200,000 tonnes which closed this week, European traders said on Thursday.
The Trading Corporation of Pakistan (TCP) bought about 120,000 tonnes from trading house Falconbridge and some 66,000 tonnes from Viterra, all at $407.49 a tonne c&f, traders said in initial assessments.
Falconbridge had made the lowest offer at $407.49 a tonne c&f in the tender on Monday and the TCP had asked other tender participants to match the lowest price.
Shipment in the tender was sought in September.
On July 21, the TCP bought 300,000 tonnes of wheat in its previous international tender all at $404.86 c&f.
Pakistan gets offers in 200,000 tonne wheat tender
Traders said on Tuesday they expected French wheat to be used to supply a hefty part of the 300,000 tonne purchase, illustrating export competitiveness of EU grain.
“It is not yet clear which origins will be used to supply the new 186,000 tonne purchase,” one trader said. “The offers offered optional supplies including from France, Russia, Ukraine, Romania and Bulgaria.”
“The sellers will now be making their decisions about origins to be shipped, depending on market prices and availability.”
A large wheat import requirement following drought and the impact of higher fertiliser prices has compelled Pakistan to buy in a world wheat market with tight supplies after Black Sea exports were disrupted by Russia’s invasion of Ukraine.
Source: Brecorder
