Bangladesh's state grains buyer said on Sunday the lowest offers in its tender to buy 100,000 tonnes of wheat were at $244.50 and $261.25 per tonne from Glencore, reports Reuters.
Glencore submitted the lowest offer of $244.25 a tonne including CIF liner out for a 50,000-tonne consignment, which was sought with 10 per cent protein content. It also quoted the lowest offer of $261.25 a tonne including CIF liner out for the other consignment of 50,000 tonnes of wheat with 12.5 per cent protein content. The wheat has to be shipped within 40 days after contract signing.
The state grains buyer plans to import 900,000 tonnes of wheat in the year to June 2015.
Apart from the government, private traders bring in 2.5 million to 3.0 million tonnes of wheat each year to help meet annual demand for more than 4.0 million tonnes. Bangladesh's dome-stic production amounts to almost 1.0 million tonnes.
Bangladesh's reserves of rice and wheat have risen to more than 1.2 million tonnes, from nearly 1.0 million tonnes a year earlier. While wheat consumption is rising, rice remains the staple food for Bangladesh's 160 million people.
Glencore offers lowest prices for BD wheat
FE Team | Published: March 03, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
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