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 Tuesday was estimated at $424.77 a metric ton CIF liner out, traders said.

The offer was believed to have been made by Indian 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 continues Bangladesh’s heavy rice purchasing in international markets, after its domestic crop was heavily damaged by bad weather last year, with a separate purchase by Bangladesh of 50,000 tons of rice reported by traders on Tuesday.

Floods in Bangladesh in August and October 2024 destroyed an estimated 1.1 million tons of rice, prompting the country to expand imports of the staple grain to cool rising food prices.

The tender on Wednesday 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 these other companies also participated in the tender, with their estimated offers given by traders per ton CIF liner out: Agrocorp $428.11, Pattabhi Agro Foods $427.99, Gurudeo Exports $430.27, Mondal Stone $435.00, Aditya Birla $435.00 and Indo Sino $428.40.

The tender seeks shipment is required 40 days after the contract is awarded.

Another international tender from Bangladesh also seeking 50,000 tons of rice closes on March 27.

Published Date: March 20, 2025