Bangladesh : Indian rice offered at lowest price
Bangladesh’s state grains buyer received a lowest bid of about USD 355.77 per tonne CIF for 50,000 tonnes of non-basmati parboiled rice, likely from India. No deal is confirmed yet, as offers remain under review amid efforts to curb rising domestic rice prices.
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 Monday was estimated at USD355.77 a metric ton CIF liner out for rice expected to be sourced from India, traders said.
Offers are still being considered and no purchase had yet been reported, they said. The tender seeks price offers for non-basmati parboiled rice in CIF liner out terms, which involve ship unloading costs for the sellers.
The lowest offer was said to have been submitted by trading house Pattabhi Agro Foods. The tender continues Bangladesh’s heavy rice purchasing in international markets with a series of tenders issued in recent months in moves to cool local markets. Domestic rice prices in Bangladesh have risen over the past year despite a good harvest, leaving consumers struggling.
Bangladesh has a separate tender seeking 50,000 tons of rice with price offers to be submitted on December 22. Traders said these other price offers were also submitted by trading houses in the tender per ton CIF liner out: Mondal Stone USD359.00 for Indian origin, Bagadiya Brothers USD357.77 for Indian or optional origin and Intra Business around USD366 for Indian origin.
Bangladesh traditionally considers price offers in grain and rice tenders for some time before making a decision. Price offers in Monday’s tender must remain valid until December 29.
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Source : Business Recorder
