95,000 tonnes of Wheat expected in Pakistan next Month
Pakistan Times Business & Commerce Desk

KARACHI: A ship carrying 45,000 tonnes of wheat from Russia will reach the Karachi Port by September 15, while another shipment of 50,000 tonnes of Australian wheat will arrive on September-26.

Trading Corporation of Pakistan (TCP) chairman Syed Masood Alam Rizvi said on Friday that the wheat had been loaded at the Russian port in Neberossysk and the shipment would leave in the next few days. The other shipment with the Australian wheat would be shipped to the Karachi port by September 7, he added.

The TCP had contracted 484,000 metric tonnes of wheat to four parties at an average price of $210 per metric tonne against its tender to import 500,000 metric tonnes of wheat to meet domestic requirements.

M/s Cargil Inc of Switzerland has won the award for 84,000 tonnes of wheat, M/s Australia Wheat Board for 100,000 tonnes, the Agrico Trade and Finance of Switzerland for 150,000 tonnes and M/s Louis Dreyfus Corporation of the USA for 150,000 tonnes.

The Russian Wheat

A local private wheat importer who preferred not to be quoted said that there was no complaint about the Russian wheat except its colour. “The wheat is consumed in Turkey, Egypt, Malaysia and Algeria and it has more protein and gluten than the US wheat,” he added.

The TCP has made amendments in its second international tender for the import of 450,000 metric tonnes of wheat which was floated last week.

TCP sources said that minor changes had been made on the request of bidders at the pre-bidding meeting on August 25 at TCP’s headoffice.

The TCP has allowed the bidders to indicate their preference for pre-shipment inspection nomination. However the corporation will appoint the pre-shipment inspection agency from its panel.

The cost of inspection, sampling and testing will be borne by the seller. The corporation has extended the time for bids from 2pm to 4pm on August 30. ●