TCP receives 11 bids for 50,000 metric tons of rice export to Bangladesh

The Trading Corporation of Pakistan (TCP) has received 11 bids for the supply of 50,000 metric tons of long-grain white rice (IRRI-6) to Bangladesh.

The tender floated on December 31, 2024, sought bids for rice exports to Bangladesh via Karachi or Gwadar ports, with delivery to Chattogram Port in break-bulk cargo, packed in 50 kg polypropylene (PP) woven bags.

The bids, ranging between $498.40 and $523.50 per metric ton on a Cost, Insurance, and Freight (CIF) basis, were opened on January 6, 2025, in the presence of bidders or their representatives. 

However, no bids were received for the 50,000 metric tons of non-basmati parboiled rice mentioned in the same tender.

For the 50,000 metric tons of long grain white rice, M/s Kap Impex emerged as the lowest bidder, offering $468.50 per metric ton Free on Board (FOB) and $498.40 per metric ton CIF. M/s Jetlee followed as the second-lowest bidder, quoting $459.81 per metric ton FOB and $499.90 per metric ton CIF, while G M Food ranked third, offering $463 per metric ton FOB and $502.40 per metric ton CIF.

Other bidders included Marvel Agro at $470 per metric ton FOB and $510 per metric ton CIF, Meskay Teka at $467.90 FOB and $513.90 CIF, and Jesani at $515 per metric ton CIF. Meskay Shahid quoted $480 per metric ton FOB and $517.50 CIF, while VMS Trading Co. bid $518.92 per metric ton CIF. Garibsons offered $482.50 FOB and $521.75 CIF, and Jhulay Lal quoted $478 FOB and $523 CIF. Conwill submitted the highest bid at $482 per metric ton FOB and $523.50 per metric ton CIF.

As per the tender’s terms, the validity of bids is for 15 working days from the date of opening, with the option for extension under PP Rules, 2004. TCP is currently evaluating the bids and is expected to announce its decision in the coming days.

Successful bidders will be required to furnish a performance bond equivalent to 5% of the contract value within four working days of receiving the Letter of Award. Failure to comply with contractual terms or meet delivery deadlines will result in forfeiture of the performance bond.