HAMBURG: The lowest price offered in the tender from Bangladesh's state grains buyer to purchase 50,000 tonnes of rice which closed on Wednesday was estimated at $416.00 a tonne CIF liner out, traders said in initial assessments.

Offers are still being considered and no purchase had yet been reported, they said. Three trading houses submitted offers, they said.

The lowest offer was said to have been submitted by trading company Bagadia Bros.

Trading house PK Agrilink was said to have offered $429.93 a tonne CIF liner out and KRBL offered $434.34 a tonne CIF liner out. Liner out prices involve ship unloading costs.

The non-basmati parboiled rice sought in the tender can come from worldwide origins and shipment to two ports in Bangladesh is required 40 days after contract award.

Bangladesh has issued a series of rice tenders in recent months amid dwindling supplies and a surge in prices of the staple grain after floods damaged its crop.

Bangladesh has also bought in state-to-state deals with India, Thailand and Vietnam, while private traders are allowed to import 1 million tonnes of rice.

The Vietnam Southern Food Corp. has won a contract to export 50,000 tonnes of 5% broken rice to Bangladesh, traders said on Wednesday.

A previous tender from Bangladesh's state grains buyer to purchase 50,000 tonnes of rice closed on March 18 with the lowest offer at $417.71 a tonne CIF liner out. Another tender from Bangladesh also seeking 50,000 tonnes of rice closes March 28.