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.