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India's MMTC, STC defer wheat tender bid date to Feb 26
February 20, 2013 / 1:20 PM / 5 years ago

India's MMTC, STC defer wheat tender bid date to Feb 26

NEW DELHI, Feb 20 (Reuters) - India’s state-run trading companies MMTC and STC have deferred the closing date for their respective global wheat export tenders to Feb. 26 as a nationwide strike crippled businesses, including banks, traders said.

Prospective bidders could not have submitted bid bonds due to the two-day bank strike, traders said.

The original deadline was Feb. 20 for both the tenders.

Many Indian banks were closed on Wednesday following a strike call by trade unions protesting against high prices.

Last month, MMTC offered 50,000 tonnes wheat for exports from government warehouse on the west coast, while STC offered 60,000 tonnes on the east coast in global tenders.

The three state-owned companies including PEC have been regularly floating wheat export tenders as part of the government strategy to trim huge stocks before new harvest. (Reporting by Ratnajyoti Dutta; editing by Malini Menon)

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