HAMBURG: No price offers were believed to have been submitted in a tender from Pakistan on Wednesday to purchase 110,000 metric tons of wheat, European traders said in initial assessments.

Traders said the tender terms were regarded as unattractive with a bid bond required for 2% of the offer value and a performance bond of 5% of contract value.

“There is a lot of interest from Pakistani private buyers for wheat which can be met without such terms,” one trader said.

Shipment was sought in the tender from the Trading Corporation of Pakistan (TCP) in consignments of at least 50,000 tons in two periods between Jan. 10-Jan. 15 and Jan 17-Jan. 22 with arrival in Pakistan by Feb. 12, 2024.

Reports reflect assessments from traders and further estimates are still possible later.