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UPDATE 1-Bangladesh gets lowest bid of $288.26/T in wheat purchase tender
September 11, 2013 / 11:29 AM / 4 years ago

UPDATE 1-Bangladesh gets lowest bid of $288.26/T in wheat purchase tender

(Adds Ukraine tender, import plans)

DHAKA, Sept 11 (Reuters) - Bangladesh’s state grains buyer received the lowest offer of $288.26 a tonne from a domestic firm in an international tender to import 50,000 tonnes of wheat, an agency official said on Wednesday.

Ismail Food Products was the lowest bidder among seven suppliers participating in the tender, the second issued in the current fiscal year that started in July. The price included cost, freight, insurance and other expenses.

The offer has to be approved by the cabinet’s purchase committee after verification, with the grain to be shipped within 40 days of signing the deal.

The state agency has introduced tougher delivery rules to ensure supplies are delivered on time by the winning bidder.

The offer is lower than the price Bangladesh is paying for wheat in a government-to-government deal with Ukraine but higher than the price of$282.66 it received from the same firm in the previous tender.

Bangladesh’s government is buying 200,000 tonnes of wheat from Ukraine at $307 a tonne CIF liner out amid a drop in government reserves.

The state agency plans to import 850,000 tonnes of wheat in the current financial year, up from around 350,000 tonnes the previous year and against a previously planned 800,000 tonnes.

Another tender is due to open on Sept. 19.

The government imports wheat to run welfare programmes for the poor and to keep domestic prices stable. Flour prices have gone up in recent months despite a drop in global markets.

Apart from 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.

Reporting by Ruma Paul; Editing by Dale Hudson

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