HAMBURG: The lowest price offered in the tender from Bangladesh’s state grains buyer to purchase 50,000 tonnes of rice which closed on Thursday was estimated at $417.71 a tonne CIF liner out, traders said in initial assessments.

Offers are still being considered and no purchase had yet been reported, they said. The lowest offer was submitted by trading house PK Agri Link, traders said.

Only one other offer was reported in the tender, from KRBL Ltd at $449.49 a tonne CIF liner out.

The tender seeks price offers for non-basmati parboiled rice in CIF liner out terms which include some ship unloading costs, for shipment to the ports of Chattogram and Mongla.

The rice can come from worldwide origins and shipment is required 40 days after contract award.

Bangladesh, which has emerged as a major rice buyer as it seeks to replenish flood-damaged stocks, will buy 350,000 tonnes in state-to-state deals, including 150,000 tonnes each from India and Thailand and 50,000 tonnes from Vietnam, a food ministry official said.

Bangladesh has issued a series of rice purchase tenders in recent months amid dwindling supplies and a surge in prices.

Two other tenders from Bangladesh, both seeking 50,000 tonnes of rice, close on March 24 and March 28.