Trading Corporation of Pakistan gets offers in wheat tender

Dawn reported, citing early assessments by European traders, that the cheapest bid in Pakistan's tender for 185,000 tonnes of wheat stood at $339.36 per tonne on a cost and freight basis. The tender closed on Monday, and the figure remains an estimate rather than a confirmed price. Such early readings can change as further data comes in.

Bunge, a trading house, is believed to have submitted an offer for roughly 60,000 tonnes. The state agency Trading Corporation of Pakistan is still weighing the bids, with no buying decision reported so far. Traders anticipate that a choice will be made shortly.

The tender comes at a time when fighting has almost halted seaborne shipments of inexpensive wheat from the Black Sea, and supplies from other origins cost more. Importers therefore face higher prices for the grain during a testing period.