September 28, 2012

Bangladesh imports 50,000 tonnes wheat from Daewoo International

Bangladesh has purchased a 50,000-tonne cargo of optional origin wheat from Daewoo International Corp. at around US$353/tonne, basis cost, insurance and freight, liner out.

A letter of intent has been issued to Daewoo and shipment has to be made within 40 days of the signing of the contract, a Dhaka-based government official said.

Bangladesh is one of Asia's largest importers of wheat, buying close to 3.5 million tonnes annually including 800,000 tonnes directly by the government.

Traders expect Indian wheat to be supplied in the deal.