NEW DELHI Feb 12 India's state-run MMTC Ltd
received the highest bid at $305 per tonne from global
trading company Glencore for its latest wheat export tender,
trade sources said on Tuesday.
MMTC floated the tender last month to sell 35,000 tonnes of
wheat for shipments between Feb. 25 and March 20 from warehouses
located on the west coast as part of the government's plan to
reduce huge stocks before the new harvest.
There were four bidders in the latest tender, they said.
State-run companies such as MMTC, State Trading Corp.
and PEC have been regularly floating export tenders to
ship out wheat from overflowing government warehouses.
The latest figures show stocks at government warehouses as
on Feb. 1 were 30.8 million tonnes, more than four times the
On Feb. 7, STC received the highest bid at $310 per tonne
from Glencore for a similar wheat export tender.
(Reporting by Ratnajyoti Dutta; Editing by Jo Winterbottom)