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Switzerland's ADM International has secured a tender to supply 50,000 tonnes of wheat to Bangladesh after submitting the lowest offer of $211.45 a tonne, said an official with the state grains buyer on Monday. This was the third international wheat purchase tender issued by the Directorate General of Food since the current financial year started in July.
The price includes freight, insurance and discharge costs. This is the lowest price the state grains buyer is paying for wheat in the current fiscal year. ADM had earlier won another tender to supply a similar volume of wheat at $215.87 a tonne. The origin of the wheat of the latest deal could be Russia or India, the official said, adding that the state buyer was receiving Russian wheat in the previous two tenders. The most-active wheat contract rose 0.5 percent on Monday to $4.54-1/2 a bushel, having closed down 0.4 percent on Friday.

Copyright Reuters, 2016

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