Indonesia buys about 210,000 tons of rice in tender

HAMBURG: Indonesian state purchasing agency Bulog is believed to have purchased about 210,000 metric tons of rice an international tender for up to 300,000 tons which closed his week, European traders said on Wednesday.

The rice was expected to be mainly sourced from Vietnam, Cambodia, Pakistan and Myanmar. The precise volume bought was unclear but traders said offers for 90,000 tons of rice from Thailand were rejected as too expensive.

The lowest price awarded was estimated at $563.00 a ton cost and freight (c&f) for 60,000 tons from Vietnam or Cambodia. The tender continues efforts by Indonesia’s government to boost rice imports to cool prices after a poor domestic harvest.