Of the eight bids received for the tender to import 2.2 million tonne wheat, the State Trading Corporation has shortlisted offers from ADM, Cargill, Glencore and Concordia, industry officials said on Friday. The other four bids have been rejected on technical grounds, they said. | |
| "Currently, STC is having negotiations with the four shortlisted bidders," an official with a trading house said. |
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| He said since the bids are valid till June 28, negotiations should be over by then and the deals finalised. |
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| However, with the rejection of bids by Toepfer, Noble Grains, Bunge and Toutone, the government may fall short of its target of importing 2.2 million tonne of wheat, trade officials said. |
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| "The current bids of the four shortlisted bidders add up to barely 1.5 million tonne," said an official with another multinational trading house. Glencore had offered to sell 550,000 tonne wheat, Cargill 480,000 tonne, Concordia about 220,000 tonnes and ADM 240,000 tonne. |
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| "Though negotiations are on with the shortlisted bidders to increase the quantity of wheat on offer, it is unlikely that they'll be able to scale up their cumulative offers to 2.2 million tonne," the official said. |
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| The country's wheat import plan may fall short of target as some bidders had failed to meet the prescribed norms. |
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| The country's previous tender to import 3 million tonne received contract deals for only 800,000 tonne, forcing it to float a new tender for 2.2 million tonne. |
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| For the latest 2.2-million-tonne tender that closed on Tuesday, the government had relaxed quality parameters and eased the tendering process to broadbase the participation. It had received bids in the range of $190-$237 per tonne. |
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