Bangladesh Purchases 50,000 Tons of Rice from India in March 11 Tender

Bangladesh's state grains buyer purchased approximately 50,000 metric tons of rice from India in an international tender that closed on March 11. The purchase was made at an estimated $429.55 per ton CIF liner out, the lowest offer submitted. This is part of Bangladesh's ongoing efforts to replenish its rice supplies after last year's crop damage due to bad weather. Two additional tenders seeking 50,000 tons of rice have been issued with closing dates on March 19 and March 27.

Bangladesh, the world's third-largest rice producer, has been actively procurcing rice from international markets to replenish its depleting stocks, following the devastation of last year's rice crop due to adverse weather conditions [1]. In the latest development, the country's state grains buyer has announced the purchase of approximately 50,000 metric tons of rice from India through an international tender that closed on March 11 [1][2]. This significant procurement was made at a competitive price of $429.55 per ton CIF liner out, making Indian rice the lowest offer in the tender [1].

Bangladesh's agricultural sector, which accounts for a considerable portion of the country's economy, has been facing the brunt of natural disasters that regularly disrupt production [1]. Floods in August and October of 2022 destroyed an estimated 1.1 million metric tons of rice, leaving the country with a substantial deficit [1][2]. This crop damage has forced Bangladesh to rely heavily on imports to meet its rice demand and maintain stable food prices [1][2].

The ongoing rice procurement by Bangladesh is part of a series of tenders issued to purchase a combined 150,000 metric tons of rice, with closing dates on March 19 and March 27 [2][3]. The tenders seek offers for non-basmati parboiled rice in CIF liner out terms, including ship unloading costs, for shipment to the ports of Chattogram and Mongla [1][2].

In conclusion, Bangladesh's ongoing rice procurement from India reflects the country's efforts to mitigate the impact of crop damage on its population and maintain stable food prices. With two additional tenders underway, Bangladesh is expected to continue its active engagement in international rice markets to meet its rice demands.

References:

[1] Reuters. Bangladesh issues new tender to buy 50,000 tons of rice, traders say. [Link](https://www.marketscreener.com/quote/index/S-P-GSCI-AGRICULTURE-INDE-46869256/news/Bangladesh-issues-new-tender-to-buy-50-000-T-of-rice-49322069/)
[2] Bretton Woods. Bangladesh, India: Bangladesh issues new tender to buy 50,000 tonnes of rice. [Link](https://www.brecorder.com/news/40351245)
[3] Bretton Woods. Bangladesh issues tender for 50,000 tons of rice. [Link](https://www.brecorder.com/news/40330782)