Cargill offered to sell wheat to India
Cargill Inc. and Glencore International AG are among seven companies that
have offered to sell wheat to India as the nation seeks to buy 1 million metric
tons to boost reserves.
Louis Dreyfus Corp. and Concordia Trading Corp . also bid, said a government
official involved in the tender in New Delhi. The suppliers offered a combined
920,000 tons at $317 a ton and $370 a ton, he said. That's more than the lowest
price of $265 quoted in a tender that was cancelled on May 30.
India is buying wheat for a second year to boost stockpiles as
demand exceeds output. The South Asian nation had 13.3 million tons of wheat in
state warehouses as of May 31, less than the 17.1 million tons the government
needs to store by July 1. Imports may rise to 5 million tons this year to cope
with emergencies, Agriculture Minister Sharad Pawar said on May 12.
called bids on June 26 for the grain to be delivered between August and
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