The Trading Corporation of Pakistan has received an offer of about $339.36 per tonne for part of its tender to import 185,000 tonnes of wheat, according to initial assessments by European traders.
The offer, believed to have been submitted by trading house Bunge for around 60,000 tonnes, was the lowest reported price in the tender, which closed Monday. The price includes cost and freight.
TCP is still evaluating the offers and has not reported a purchase. Traders expect the state agency to decide on the tender in the coming days.
The tender comes as wheat importers face tighter and more expensive supplies following fighting that has brought seaborne exports of cheaper Russian and Ukrainian wheat from the Black Sea region to a virtual halt.
Alternative wheat supplies are available but are currently more expensive, adding pressure to import costs.
The reported prices and volumes are initial trader assessments and could change as further estimates emerge.
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