February 10, 2012

Bangladesh to import 50,000 tonnes of wheat

Bangladesh issued a tender on Thursday (Feb 9) seeking imports for 50,000 tonnes of wheat to boost reserves, according to a procurement official.

The last date for submission of offers is February 26, with validity till March 6. The wheat is to be shipped in 40 days after signing the contract.

This is the seventh tender for wheat issued by the state grains buyer, which has said it plans to import a total of 900,000 tonnes of wheat in the year to June.

A senior procurement official told Reuters last month, however, that the government would not import the full volume due to satisfactory reserves.

Apart from tenders, Bangladesh is buying 60,000 tonnes of wheat from Ukraine at US$280 a tonne, including CIF liner out, in a government-to-government deal, after purchasing 100,000 tonnes from Kiev in September.

The state grains buyer has so far purchased or completed deals for 560,000 tonnes including the latest pact with Ukraine.

Rice and wheat stocks at government inventories stand at more than 1.5 million tonnes, the highest in a decade, boosted by the previous year's hefty imports and record rice crops.

The government has been battling with high inflation, which hit 11.59 % in January.

Bangladesh buys 3- 3.5 million tonnes of wheat annually to meet 160 million population's food demand.