The Government Trading Corporation of Iran (GTC) said on Monday it has issued new tenders to purchase up to 60,000 tonnes of rice from Vietnam and Uruguay. Bidding deadline was also on Monday, GTC said on its website. This followed GTC's announcement last week that it had cancelled all previously issued tenders, including tenders for 100,000 tonnes of rice from Vietnam and 60,000 tonnes of rice from Uruguay.
The GTC said it was now seeking offers for 30,000 tonnes of Uruguayan rice on a FOB basis with vessels being loaded in Montevideo during July.
The GTC was also seeking 15,000 to 30,000 tonnes of Vietnamese rice also on FOB terms with vessels loading in Ho Chi Minh City in July.
The cancelled tenders were for 100,000 tonnes from Vietnam and 60,000 tonnes from Uruguay both for August 1-30 shipment.
European traders had said last week the previous tenders had been cancelled following disagreement between the GTC and the government about bidding terms.
Iran's government had asked the GTC to announce tenders 30 days before the deadline and require that bids be valid for a minimum 15 days. The previous rice tenders had June 25 as bidding deadline with offers to be valid until July 11.
The GTC had argued this was not practical in view of constantly changing commodity prices and exchange rates. It had now reverted to its old system of generally making a decision on the same day offers been submitted, traders said.
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