Indonesia seeks 300,000 metric tons rice for May arrival, traders say
HAMBURG, March 20 (Reuters) – The international tender from Indonesian state purchasing agency Bulog to buy 300,000 metric tons of rice seeks arrival of the grain in Indonesia by May 31, European traders said on Wednesday.
Bulog had announced the tender on Monday but given few details, saying more information would be given after traders had registered for tender participation on Wednesday.
Traders said price offers must be submitted by Monday, March 25. Negotiations with Bulog will then take place in the following days with a decision expected by March 27.
The tender continues efforts by Indonesia’s government to boost rice imports to cool prices after a poor local crop.
Prices for rice, the staple for most of Indonesia’s 270 million people, have soared more than 16% since last year as the El Nino weather phenomenon cut rainfall across large parts of Asia in 2023, reducing output and sparking food inflation pressure.
The white rice of 5% broken grade is sought from Thailand, Vietnam, Myanmar, Pakistan and Cambodia, they said.
The rice should come from the 2023/2024 crop year and should have been milled no longer than six months ago. It should be packed in 50 kg bags.
Shipment is preferred in breakbulk vessels but delivery in shipping containers is permitted in some ports.
In its last reported tender on March 1, Bulog was believed to have purchased about 300,000 tons of rice expected to be mainly sourced from Thailand plus some from Pakistan.
Source Link : https://www.nasdaq.com/articles/indonesia-seeks-300000-metric-tons-rice-for-may-arrival-traders-say
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