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Swiss Singapore Overseas wins tender to supply wheat to Bangladesh

Reuters, 22.11.19

DHAKA, Nov 21 (Reuters) - Trading house Swiss Singapore Overseas has secured a tender to supply 50,000 tonnes of wheat to Bangladesh after submitting the lowest offer of $268.14 a tonne, including CIF liner out, two officials from the country's state grain buyer said on Thursday.

Three other firms competed for the tender from the Directorate General of Food, Bangladesh's grains purchasing agency, in which wheat with 12.5% protein content was sought for shipment 40 days after contract signing.

Officials said the other offers submitted in the tender per tonne CIF liner out were: Aston $268.68, Agrocorp $268.90 and Grainexport SA $271.

The liner out price includes shipping, insurance and ship unloading costs.

The wheat in the lowest offer was of Russian origin, one of the officials said.

Trading house Agrocorp secured the state grains buyer's previous tender to supply a similar volume of wheat after submitting the lowest offer of $255.46 a tonne.

Black Sea prices for Russian wheat with 12.5% protein content were up $1 to $201 per tonne on a free on board (FOB) basis at the end of last week, agricultural consultancy IKAR said in a note.

Bangladesh has been highly active in the international wheat market this year with a large import requirement driving demand.

The south Asian country has turned to wheat imports, mainly from the Black Sea region, in recent months to meet its growing domestic demand.

The strong demand for wheat in Bangladesh reflects a shift in consumer preferences towards bread, partly as a substitute for more expensive rice, the United Nation's Food and Agriculture Organization (FAO) has said.

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