Trading Corporation of Pakistan (TCP) has sold 25,000 metric tons of Super Basmati Rice to the two highest bidders. TCP tender for the sale of 25,000 tons of locally procured rice was opened on January 24, 2011. However, the price evaluation committee of TCP met here on Monday and decided to sale rice to highest bidders.
The tender has awarded to two highest bidder namely, M/s. Al-Asad Rice Mills and M/s. Moro Trading Company through tender at a price of Rs 65,072 PMT. The stocked rice was procured by the Corporation in 2009 on the directives of the Federal Government as a price support initiative. The market intervention by the TCP, at that time, brought stability to the prices.
Earlier, in April 2010, the auctioned commodity was also was offered for sale through tender, however it failed to attract appropriate prices, due to depressed international market. According to TCP, in recent tender commodity has fetched better price due to its certification by the Rice Research Institute at Kala Shah Kaku, Lahore, confirming it as good quality rice.
Comments
Comments are closed.