Bangladesh receives offers to purchase 50,000 tons of rice in tender, traders claim

They said that offers are still being considered, and no purchases have yet been reported. The reports reflect the assessments of traders, and further estimates on prices and volume are possible later.

Bangladesh takes a while to consider the price of grain and rice before making a final decision.

Traders said that the lowest bid was submitted by a Middle East trading company.

The tender is seeking price offers for nonbasmati parboiled risotto in CIF terms (which include ship unloading charges) for shipment to Chittagong and Mongla ports.

The traders said that these other companies participated in the tender. Their estimated offers per ton CIF were: Agrocorp 357.04, Bagadiya Brothers 361.98, Pattabhi Agro Foods 358.24 Gurudeo Exports 358.21 Aditya Birla 359.40 Jai Baba 390.77 and Mondal Stone 363.77.

Rice can be imported from anywhere in the world, except Israel. Shipment is required within 40 days of contract award.

In recent months, Bangladesh held a number of rice auctions as part of an effort to stabilize the domestic food price. The domestic rice price in Bangladesh remains high despite strong harvests and healthy reserves.