India's MMTC gets lone bid below floor price in wheat export tender

State Trading of India

21/06/2013 10:55

NEW DELHI, June 21 (Reuters) - India's state-run trader MMTC Ltd  MMTC.NS  received just a single bid at $265 per tonne, lower than its floor price, in its latest wheat export tender, trade sources said on Friday. The company is now expected to cancel the tender, for which the government-set floor price was $300 per tonne, said one of the sources. Last month, MMTC floated the tender to sell 100,000 tonnes of wheat for July shipments from warehouses located on the west coast as part of the government plan to cut huge stocks. ID:nL3N0EC2V7  (Reporting by Ratnajyoti Dutta, editing by Anurag Kotoky) ((ratnajyoti.dutta@thomsonreuters.com)(+91 11 4178 1013)(Reuters Messaging: ratnajyoti.dutta.thomsonreuters.com@reuters.net)) Keywords: INDIA MMTC/TENDER