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Bangladesh tenders to import 50,000 T of wheat

Bangladesh tenders to import 50,000 T of wheat

DHAKA: Bangladesh’s state grains buyer issued an international tender to import 50,000 tonnes of milling wheat, officials said on Sunday, as it looks to secure supplies.

The deadline for offers is July 3, and the wheat is to be shipped within 40 days of signing the deal, said the officials at the Directorate General of Food, the country’s state grains purchasing agency.

Bangladesh emerged as a major buyer of rice and wheat in 2017 after floods destroyed its crops, sending staple rice prices to record highs that prompted many to switch to flour.

The South Asian country imported 5.8 million tonnes of wheat in the year to June 2017, making it one of the world’s biggest importers of the grain.

Bangladesh has turned to the Black Sea region for wheat because supply from India has dwindled as it meets growing domestic demand. Bangladesh’s output has stagnated at around 1 million tonnes.

The government bought 200,000 tonnes of wheat in an inter-state deal at $252 a tonne from Russia, which is set to overtake the United States as the world’s biggest wheat exporter this year.

Bangladesh also buys smaller quantities of high-quality Australian and Canadian cargoes for blending.

Copyright Reuters, 2018

Source: Brecorder

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