AVN 64.80 Increased By ▲ 0.63 (0.98%)
BAFL 30.90 Increased By ▲ 1.00 (3.34%)
BOP 4.73 Increased By ▲ 0.10 (2.16%)
CNERGY 3.87 Decreased By ▼ -0.02 (-0.51%)
DFML 13.44 Increased By ▲ 0.09 (0.67%)
DGKC 41.34 Increased By ▲ 0.49 (1.2%)
EPCL 46.23 Decreased By ▼ -0.77 (-1.64%)
FCCL 11.39 Increased By ▲ 0.39 (3.55%)
FFL 5.05 Decreased By ▼ -0.03 (-0.59%)
FLYNG 5.81 Increased By ▲ 0.04 (0.69%)
GGL 9.90 Increased By ▲ 0.15 (1.54%)
HUBC 64.06 Increased By ▲ 2.11 (3.41%)
HUMNL 5.67 Increased By ▲ 0.02 (0.35%)
KAPCO 27.83 Increased By ▲ 0.25 (0.91%)
KEL 2.13 Decreased By ▼ -0.02 (-0.93%)
LOTCHEM 24.35 Increased By ▲ 0.05 (0.21%)
MLCF 21.36 Increased By ▲ 0.64 (3.09%)
NETSOL 84.43 Increased By ▲ 1.33 (1.6%)
OGDC 87.80 Increased By ▲ 1.75 (2.03%)
PAEL 10.92 Increased By ▲ 0.12 (1.11%)
PIBTL 4.17 Increased By ▲ 0.03 (0.72%)
PPL 77.53 Increased By ▲ 1.34 (1.76%)
PRL 13.65 Decreased By ▼ -0.01 (-0.07%)
SILK 0.88 Decreased By ▼ -0.01 (-1.12%)
SNGP 41.75 Increased By ▲ 1.00 (2.45%)
TELE 5.89 Increased By ▲ 0.01 (0.17%)
TPLP 15.81 Increased By ▲ 0.16 (1.02%)
TRG 112.65 Increased By ▲ 2.55 (2.32%)
UNITY 13.97 Increased By ▲ 0.22 (1.6%)
WTL 1.14 Decreased By ▼ -0.01 (-0.87%)
BR100 4,048 Increased By 80.6 (2.03%)
BR30 14,467 Increased By 282.1 (1.99%)
KSE100 40,673 Increased By 801.8 (2.01%)
KSE30 15,190 Increased By 292.7 (1.96%)
Follow us

DHAKA: Bangladesh is set import 500,000 tonnes of wheat at $430 a tonne from Russia in a government-to-government deal as it battles to secure supplies amid surging prices, two government officials with the direct knowledge of matter said on Sunday.

The south Asian country, among importers hit by disruption to Ukrainian and Russian grain exports, has been exploring ways to import the grain since its biggest supplier India banned export of the grain in May.

The deal with Russia will be signed in a few days and the shipment will take place in phases by January, one of the officials said.

Bangladesh will pay in U.S. dollars for the import, the other official said, adding the cost included freight, insurance and unloading.

Both officials spoke on condition of anonymity as they are not authorised to talk to media.

Salman Fazlur Rahman, the prime minister’s private industry and investment adviser, told Reuters that Bangladesh is buying grain and fertiliser from Russia but did not elaborate.

India says not planning to import wheat

“We can make payments in dollars for imports of food grains and fertilisers from Russia through 24 global banks, with no restriction on such imports,” he said.

After India’s export ban, Bangladesh tried via international tenders to shore up government stock that hit its lowest in three years earlier this year, but had to cancel some tenders because of the extremely high prices in a turbulent global market.

Bangladesh is a major importer of black sea wheat but no supplies have reached the country since the Russia-Ukraine war began in February.

The country imported 5.4 million tonnes of wheat in year to June 2021, with 24% of its supplies coming from India, 21% from Russia and 17% from Ukraine.

The government, which has already been struggling to contain the impact of soaring commodity prices, could face further trouble as it raised prices of oil it imports and resellsdomestically by as much as 51.7% early this month.

Bangladesh is also reviewing a Russian proposal to import cheaper fuel though paying for oil will be a challenge for Dhaka given Western sanctions on Moscow, officials have said.

Comments

Comments are closed.

Saeeda Aug 28, 2022 07:36pm
What about 224 unit
thumb_up Recommended (0)

Bangladesh set to import 500,000 T of wheat from Russia

Dar meets IMF review mission, apprises it of planned power sector reforms

After 29 successive losses, rupee sees some gain, settles at 267.89 against US dollar

US Fed starts policy meeting with smaller rate hike likely

We must put our house in order, says Asif after Peshawar mosque bombing

Corps commanders resolve to bring perpetrators of Peshawar attack to ‘exemplary justice’

Inflationary pressure expected to calm down gradually: Finance Division

KSE-100 jumps 800 points owing to optimism over IMF talks

Pakistan’s performance worsens, rank remains same in corruption perception index

Police foil terrorist attack on Mianwali police station

Barrick Gold makes first payment of $3mn to Balochistan govt