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Bangladesh gets offers in 50,000 tonne wheat tender – traders

Bangladesh’s state grains buyer received a lowest offer of $324.90 a tonne CIF liner out in an international tender on Thursday to purchase and import 50,000 tonnes of wheat, traders said.

No purchase has yet been made and the offers are still being considered, they added.

The south Asian nation is importing rice and wheat to shore up depleted reserves after repeated floods last year damaged its crops, sending domestic prices to record highs.

The offer was submitted by trading house Soubhik Exports for Indian-origin wheat, traders said.

This was followed by $325 a tonne CIF liner out from trading house Remo Exports, also for Indian-origin wheat, and $359.83 a tonne CIF liner out from Agrocorp.

Another trading house also made an offer for Canadian wheat but this was said to lack paperwork and was rejected.

CIF liner out terms include ship unloading costs for the seller.

Bangladesh, which has issued a series of wheat and rice tenders in past months, imports about 6 million tonnes of wheat a year, making it one of the world’s biggest grain buyers.

A previous tender from Bangladesh for 50,000 tonnes of wheat in January was suspended without a purchase reported.

Shipment in the latest tender is sought 40 days after the date of contract signing. The wheat can be sourced from any worldwide origins except Israel and is sought for shipment to two ports, Chattogram and Mongla.
Source: Reuters (Reporting by Michael Hogan; Additional reporting by Ruma Paul; Editing by Clarence Fernandez)

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