Bangladesh to buy 50,000 tonnes wheat

Bangladesh's state grains buyer has issued a new international tender to purchase and import 50,000 tonnes of wheat, European traders said on Monday.

Tender closing date is 3 Febuary, they said.

The grain can be supplied from any worldwide origin except Israel. Wheat with 12.5 per cent protein content was sought for shipment 40 days after contract signing, they said.

Offers should be for c&f liner out terms which includes provisions for ship unloading. Suppliers will also have to pay any extra cost for unloading by barges if needed.

Offers were sought for shipment to the ports of Chattogram and Mongla.

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

A report from the United Nation's Food and Agriculture Organisation (FAO) in December 2018 estimated Bangladesh’s wheat import requirements in the current 2018-19 season at a record of around 6 million tonnes, 34 per cent above the previous five-year average following steady increases since 2012-13.

The strong demand for wheat reflects a shift in consumers’ diet preferences towards bread as well as the increased use of wheat as a substitute for more expensive rice, the FAO said.

In Bangladesh's last reported wheat tender on 8 January, Russian wheat was offered at the lowest price.

Source: Reuters