Bangladesh gets offers in 50,000 T wheat purchase tender

The lowest offer in an international tender from Bangladesh’s state grains buyer to purchase and import 50,000 metric tons of wheat on Tuesday was assessed at $301.38 a metric ton liner out, European traders said.

The offer was believed to have been submitted by trading house Agrocorp. Offers are still being considered and no purchase has yet been made, traders said.

Bangladesh generally does not make immediate decisions about wheat purchases which can take some time to be confirmed.

Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.

Traders said two other offers were submitted in the tender per ton liner out, with DMCC Agro offering $303.20 and Cereal Crops $306.75.

Traders said wheat offered by Agrocorp and DMCC was believed to have been offered as optional origin with possible loadings at large numbers of ports. Wheat from Cereal Crops was expected to be sourced from Russia with Black Sea loading.

Russia has been seeking unofficially to brake its huge wheat exports with a series of measures. Russia’s Grain Exporters Union started publishing minimum indicative export prices for Russian wheat last week, a move that helped raise Russian export prices.

Liner out costs include ship unloading costs for the wheat seller.

Shipment is sought by Bangladesh 40 days after the date of contract signing. The wheat can be sourced from any origins worldwide except Israel.

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Tags: tender, wheat, purchase, Bangladesh, offer