Reuters

HAMBURG: The lowest price offered in the tender from Bangladesh’s state grains buyer to purchase 50,000 metric tons of rice which closed on Thursday, was assessed at $434.55 a metric ton CIF liner out, traders said.

The offer was believed to have been made for Indian origin rice by trading house Bagadiya Brothers, they said. Offers are still being considered and no purchase had yet been reported, they said. Bangladesh traditionally considers price offers in grain and rice tenders for some time before making a decision. Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.

The tender seeks price offers for non-basmati parboiled rice in CIF liner out terms which include cost, insurance and freight plus ship unloading costs, for shipment to the ports of Chittagong and Mongla.

Traders said they believed most other tender participants offered Indian-origin rice. These other companies also participated in the tender, with their estimated offers given by traders per ton CIF liner out: Pattabhi Agro Foods $439.70, Aditya Birla Global Trading $451.99, CLRK Industries $443.70, Mondal Stone Product $443.51, Gurudu $443.23, Indo Sino $444.11 and Intra Business $448.65.

The rice was sought from worldwide origins and shipment is required 40 days after contract award. Bangladesh has been an active rice buyer in international markets after floods in the country in August and October 2024 destroyed an estimated 1.1 million tons of rice, according to data from the agriculture ministry, prompting the country to expand imports of the staple grain amid soaring food prices.

Published Date: February 14, 2025