PEC to sell 21K T of imported wheat
State-owned trading firm PEC said it would sell 21,478 tons of imported wheat of Russian origin in the domestic market by August 3.
By PTI |
NEW DELHI: State-owned trading firm PEC on Wednesday said it would sell 21,478 tons of imported wheat of Russian origin in the domestic market by August 3.
"The wheat stored at various warehouses at Tuticorin will be sold in the domestic market for which bids are invited," a PEC official said.
The Russian origin wheat was imported last year, he added.
According to PEC, the last date of submission of bids is July 30 and the price quotations would be opened on the same day. A final decision would be taken by August 3.
The decision of the public sector undertaking came a few days after the government announced the fourth advance estimate, which pegged the wheat production at 74.89 million tons for 2006-07 season ending June. The third estimate had projected the foodgrain production at 73.7 million tons.
"If the estimate is correct, PEC should not have sold its last year's wheat now," a trader said, adding it would benefit flour millers in the south as they would have to pay less on transport of the foodgrain from Tuticorin.
"The wheat stored at various warehouses at Tuticorin will be sold in the domestic market for which bids are invited," a PEC official said.
The Russian origin wheat was imported last year, he added.
According to PEC, the last date of submission of bids is July 30 and the price quotations would be opened on the same day. A final decision would be taken by August 3.
The decision of the public sector undertaking came a few days after the government announced the fourth advance estimate, which pegged the wheat production at 74.89 million tons for 2006-07 season ending June. The third estimate had projected the foodgrain production at 73.7 million tons.
"If the estimate is correct, PEC should not have sold its last year's wheat now," a trader said, adding it would benefit flour millers in the south as they would have to pay less on transport of the foodgrain from Tuticorin.
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