Pakistan gets offers in 185,000 metric ton wheat tender, traders say

Business Recorder reported, citing European traders, that Pakistan's state agency Trading Corporation of Pakistan received offers in a tender for 185,000 metric tons of wheat, which shut on Monday. The lowest offer, put at $339.36 per metric ton with cost and freight included, is believed to have come from Bunge for roughly 60,000 tons. Traders stressed these are preliminary readings, and revised price and volume figures may emerge later.

The state agency is still weighing the offers, and no purchase has been reported, with a decision expected in the coming days. Other bids ranged from $341.88 to $354.83 a ton, while LDC offered the largest volume at 120,000 tons.

Reports linked the tender to a hard market for importers, since fighting has almost halted seaborne shipments of lower-priced Russian and Ukrainian wheat from the Black Sea. Buyers now face costlier supplies from other origins. Earlier this month, the agency bought 365,000 tons at $348.83 a ton including cost and freight under a separate tender that sought up to 750,000 tons.