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 $434.77 a metric ton CIF liner out, traders said.

The offer was made for Indian origin rice by trading house Agrocorp, 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.

The new 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. Indian-origin rice also dominated the other offers, traders said.

These other companies also participated in the tender, with their offers per ton CIF liner out and expected origins in brackets: CLRK Industries $451.44 (India), Mondal Stone Product $456.07 (India), Bagadiya Brothers $449.66 (India or optional origin) SAEL Agri Commodities $462.90 (India), Aditya Birla Global Trading $448.99 (India) and Pattabhi Agro Foods $444 (India).

The rice was sought sourced from worldwide origins apart from Israel 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 destroyed an estimated 1.1 million metric 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 9, 2025