The Trading Corporation of Pakistan’s (TCP) international tender to procure 100,000 metric tonnes of long-grain white rice for Bangladesh received a lowest offer of $394.95 per tonne CIF liner out, according to European traders on Friday.
A total of 11 companies participated in the tender, with competing bids quoted between $397.25 and $424.80 per tonne. Traders said the lowest price was offered by Jhulay Lal, although TCP has not finalised any purchase and all offers remain under review.
Under CIF liner out terms, the quoted price covers the cost, insurance, and freight to a Bangladeshi port, as well as the seller’s expenses for unloading at the destination.
The tender requires that price offers remain valid for 21 working days. If awarded, suppliers must make the rice available for shipment within 45 days of contract confirmation.
Market participants viewed the tender as part of Bangladesh’s recent series of rice import efforts aimed at easing domestic prices. Traders also suggested that while Pakistan-origin supplies are being targeted in this process, Indian-origin rice may still be used to fulfil some of Bangladesh’s recent purchase commitments.
Reports are based on trader assessments and may be updated as additional price or volume details emerge.
