The lowest offer in an international tender from Bangladesh's state grains buyer to purchase and import 50,000 metric tons of wheat which closed on Monday was assessed at $286.08 a metric ton CIF liner out, European traders said.
Offers are still being considered and no purchase has yet been made, traders said.
Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.
Bangladesh has been active in wheat and rice import markets in October and November after massive floods in the country in August and October destroyed an estimated 1.1 million tons of rice.
The lowest offer in the tender was believed to have been submitted by trading house Agrocorp for wheat sourced optionally from Ukraine, Romania, Bulgaria, Argentina, the United States or Canada.
Two other companies participated in the tender, initial reports from traders said. Trading house Aston offered $294.13 CIF free out for wheat optionally from 28 countries including Russia and Cereal Crops $299.95 both CIF free out for Russian wheat.
Bangladesh generally does not make immediate decisions about wheat purchases which can take some time to be confirmed. CIF liner out terms include ocean shipping and ship unloading costs.
Shipment is sought 40 days after the date of contract signing. The wheat can be sourced from any worldwide origins except Israel and is sought for shipment to two ports, Chattogram and Mongla.
A wheat tender from Bangladesh in October became entangled in unofficial Russian grain export restrictions apparently aimed at cutting wheat exports to cool Russian domestic prices.
But Russian-origin had also been submitted in Bangladesh’s last reported wheat tender on Nov. 7 when the lowest offer of $292.14 a ton CIF liner out was presented.
(Reuters)
