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High wheat prices prompted decision to scrap tender

NEW DELHI: The government has scrapped a tender to import wheat as the prices being quoted by international trade were too high.

The tender was scrapped on Monday by the Commerce Ministry.

There are no immediate plans to import wheat as the government feels that the buffer stock of wheat is “comfortable.”

The State Trading Corporation had floated a tender earlier this month for import of 3.15-lakh tonnes of wheat. It received three bids from global suppliers in the range of $460 to $580 a tonne.

The bidders were Swiss Glencore International AG, German Toepfer International and Cargill of the United States.India had imported wheat in July at a weighted average price of $389.45 a tonne. This invited strong protests as the price was too high compared to the minimum support price paid to Indian farmers for wheat for the Central pool.

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