Synopsis

Bangladesh received a lowest offer of $477 per tonne for 50,000 tonnes of rice from India in a tender aimed at securing supplies after devastating floods. While the offer is under consideration, the government plans to import a total of 500,000 tonnes and allow private imports to combat soaring food prices.

The lowest price offered in the tender from Bangladesh’s state grains buyer to buy 50,000 metric tons of rice that closed on Monday was assessed at $477.00 a tonne CIF liner out for rice sourced from India, an official in Bangladesh and European traders said.

Offers are still being considered and no purchase has yet been made, they said.

The lowest offer was believed to have been submitted by Pattabhi Agro Foods, they said.

The tender seeks price offers for non-basmati parboiled rice in CIF liner out terms, including ship unloading costs, for shipment to the ports of Chattogram and Mongla.

These other companies also participated in the tender, with their offers per ton liner out and expected origin in brackets: Bagadiya Brothers $477.77 (India), SAEL Agri Commodities $494.45 (India), Agrocorp $490.56 (India), Halder Venture $499.77 (optional India, Myanmar, Thailand, Vietnam), and Aditya Birla Global Trading $479.50 (India).

Floods in Bangladesh have destroyed an estimated 1.1 million tons of rice, prompting the country to ramp up imports of the staple grain amid soaring food prices.

In response, the government is moving quickly to import 500,000 tons of rice and is expected to permit private sector imports soon, a food ministry official said on Oct. 20.

The rice in the tender can come from worldwide origins and shipment is required 40 days after contract award.

Published Date: November 4, 2024