Bangladesh receives tender offers to purchase 50,000 tons rice

They said that offers are still being considered, and no purchases have been reported.

The reports reflect the assessments of traders, and it is possible to estimate prices and volumes later. Bangladesh has a tradition of taking a long time to consider the price offered in rice and grain tenders before making a final decision.

The tender is seeking price offers for non-basmati parboiled rice in CIF terms (liner out), which include ship unloading charges for the sellers.

Trading house Agrocorp was said to be the lowest bidder.

The traders said that these other trading houses also made price offers (per ton CIF liner-out): Mondal, CredentOne, Bagadiya Brothers, Aditya, and Pattabhi Agro Foods.

In an attempt to cool down local markets, the tender is part of a series that has been held in recent weeks. The domestic rice price in Bangladesh has risen by about 15% over the last year, despite a bumper harvest. This leaves consumers struggling.

On Monday, Bangladesh issued a new tender for 50,000 tons rice. Offers are due on November 20. Bangladesh also released a separate bid for 50,000 tons rice, with offers due on November 13, while another tender closed on November 3.