Pakistan to Export 50,000 Tons of Rice to Bangladesh
Pakistan will export 50,000 metric tons of rice to Bangladesh under a G2G deal. TCP awarded contracts to M/s Kap Impex and M/s Jetlee at $498.40 per metric ton. The shipment is set for late February. This deal strengthens regional trade, with Pakistan’s rice exports reaching a record $4 billion last fiscal year.
ISLAMABAD: Pakistan is set to export 50,000 metric tons of rice to Bangladesh under a government-to-government (G2G) arrangement.
The Trading Corporation of Pakistan (TCP) has awarded the contract to two firms for the exports, according to the Profit.
The rice is scheduled for shipment in the last week of February.
The publication said Bangladesh had expressed interest in importing rice from Pakistan to meet its domestic demand, prompting TCP to issue an international tender on December 31.
The tender opened on January 6 and reportedly received bids from 11 exporters who offered prices between $498.40 and $523.50 per metric ton for Long Grain White Rice (IRRI-6).
Bangladesh’s demand
While Bangladesh also sought to import 50,000 metric tons of Non-Basmati Parboiled Rice, no Pakistani exporters submitted bids for this category, the Profit reported.
Following the tender process, TCP Chairman Syed Rafeo Bashir Shah visited Dhaka and signed a Memorandum of Understanding (MoU) with Abdul Khaleque, Director General of Bangladesh’s Directorate General of Food.
After final approvals from Bangladeshi authorities, TCP awarded the contract to M/s Kap Impex, the lowest bidder, for the supply of 25,000 metric tons of rice at $498.40 per metric ton.
The second-lowest bidder, M/s Jetlee, was invited to match this price and was awarded the remaining 25,000 metric tons.
Bid validity extended
The terms of the tender stipulated that bid validity would last 15 working days from the opening date, but it was extended under Public Procurement Rules 2004.
Authorities said the selected bidders must ensure timely delivery and compliance with TCP’s quality and specification requirements. A performance bond will be forfeited without prior notice if contractual obligations are not met, they added.
Faisal Jahangir, Chairman of the Rice Exporters Association of Pakistan (REAP), described the deal as a positive step for regional trade, noting that Pakistan’s rice sector had reached record-high exports of $4 billion by the end of the last fiscal year and said exporters were also pursuing direct orders from Bangladesh beyond the G2G arrangement, the Profit said.
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Source : We News
