DHAKA/HAMBURG: Bangladesh’s state grains buyer has purchased about 50,000 tonnes of milling wheat in an international tender which closed on July 14, officials in Bangladesh and European traders said on Thursday.
The purchase was made from trading house Intra Business of Singapore, said to be the only tender participant, at $476.38 a tonne c&f free out for optional origins including Australian, German, Bulgarian, Romanian, US and Canadian wheat. Bangladesh on July 20 purchased about 50,000 tonnes of milling wheat in a tender which closed on July 5 at an estimated $448.38 a tonne CIF liner out.
Bangladesh has been buying more wheat to boost its food reserves in a turbulent world market.
Bangladesh is among the importers hit by disruption to Ukrainian and Russian grain exports. Bangladesh was in recent months a major importer of wheat from India, which has recently restricted grain exports, seriously tightening supply in Asian markets.
Indian wheat prices have jumped to a record high, despite a ban on exports, amid strong demand and dwindling supply from a crop damaged by heat. Wheat shipment in the July 14 tender was sought 40 days after the date of contract signing. The wheat can be sourced from any origin except Israel and was sought for shipment to two ports, Chattogram and Mongla.