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A wheat import tender issued by India's State Trading Corp has lapsed with no decision on purchases from three trading firms before the validity period expired, a government source said on Monday. "The tender's validity has expired on November 27. The tender stands lapsed," a senior government official close to the deal told Reuters.
Three international trading firms, Cargill, Glencore and Toepfer had offered to sell 330,000 tonnes of wheat at sky-high prices between $459-$599 a tonne, reflecting shrinking supplies and a surge in US wheat futures on strong export demand. The source said that no talks had been held with any of the three bidders for extending the validity period.

Copyright Reuters, 2007

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