PEC mulls wheat import

State-owned PEC is mulling importing up to 120,000 tonnes wheat subject to price viability and availability of the foodgrain in the global market, a senior company official said today.

"We are interested, but it is subject to viability...The Indian crop is still coming in so we will wait before going in for overseas buys," the official said.

The official also clarified that the imports will not be on the government account. The official said that PEC had floated a very limited enquiry and is still studying the offers.

If it decides to import, the company will seek the desired quantity in three cargoes of 35,000-40,000 tonnes for delivery between August and October. Last week, MMTC had floated a 50,000-tonne wheat import tender, with an option of buying an additional 50,000 tonnes, for private users.

Meanwhile, the Centre has decided to import up to 5 million tonnes wheat between August and December to shore its buffer stocks. The country's output this year is seen at 73.7 million tonnes compared with 69.5 million tonnes in 2006.