HAMBURG: Pakistan is still considering price offers in its tender to buy 500,000 tonnes of wheat which closed last week with no purchase yet reported, European traders said on Monday.
Pakistan’s government had approved a plan in October to buy 300,000 metric tonnes of wheat from Russia. The country’s Economic Coordination Committee, which is headed by Finance Minister Ishaq Dar, approved the plan proposed by the ministry of commerce to procure wheat from the Russian government. However, the plan is yet to be materialzied.
State buyer the Trading Corporation of Pakistan (TCP) asked trading houses participating in the tender to extend the validity of their price offers until Monday, Dec. 5, traders said.
A decision is expected later on Monday, they said.
More participants in the tender, which closed on Wednesday, have agreed to match the lowest price of $372.00 a tonne c&f, European traders said on Thursday.
