Monday, 31 August 2015 16:55
DHAKA: Bangladesh’s state grains buyer has issued a tender to import 50,000 tonnes of wheat, a procurement official said on Monday, as part of efforts to ensure supplies.
The deadline to submit offers under the tender is Sept. 15, with validity up to Sept. 27, and the wheat is to be shipped within 40 days of signing the contract.
This is the second tender issued by the state grains buyer in the current fiscal year that started in July.
South Korean trading firm Daewoo International made the lowest offer of $ 235 a tonne, including CIF liner out, in its first tender that opened on Thursday.
Wheat has given up more than 20 percent of its value since the beginning of July as rising global supplies drag down prices.
The state grains buyer plans to ship in 950,000 tonnes of wheat in the current fiscal year, up from 300,000 tonnes the previous year.
It has moved to ensure quality of the wheat, seeking grain with 12.5 percent protein content.
Two cargoes, carrying a total of 104,500 tonnes of wheat, were rejected this month by the state grains buyer after the grain failed to match tender specifications. The rejections came after the state buyer faced severe criticism for importing 200,000 tonnes of wheat from Brazil in tenders, of which some was found to be below standard.
Rice is the main staple for Bangladesh’s 160 million people, but wheat consumption is also rising due to lifestyle changes.
In addition to the government, private traders also import about 2.5 million tonnes of wheat a year to help meet local demand of 4 million tonnes. Domestic output amounts to about 1 million tonnes.
