DHAKA: Bangladesh’s state grains buyer received the lowest price offer of $464.55 a tonne CIF liner out in an international tender to import 50,000 tonnes of wheat, officials from the country’s grain purchasing agency said on Monday.

Trading house Bagadiya Brothers submitted the lowest offer in the tender, which closed on Sunday, the Directorate General of Food added. The only other offer was submitted by Agrocorp at a price of $465.38 per tonne CIF liner out.

Liner out costs include ship unloading costs for the wheat seller. No purchase has yet been reported and the offers are still being considered, the officials said.

The state grains purchasing agency also cancelled a previous tender, which closed last week, citing high price from the sole participant. The offer price was $548.38 a tonne including CIF liner out, up from the $399.19 a tonne CIF liner out paid by Bangladesh in a tender on April 11. Bangladesh has issued a series of wheat tenders in recent months to shore up depleted reserves amid soaring prices of wheat. The south Asian country is among importing countries hit by disruption to Ukrainian and Russian grain exports and surging prices of wheat and other commodities caused by the conflict between the two countries.

Bangladesh imported around 7 million tonnes of wheat in 2021, with 65% coming from neighbouring India, which recently banned wheat exports, tightening supplies in Asian markets.

Shipment for Sunday’s tender is sought 40 days after the date of signed contract. The wheat can be sourced from any worldwide origins except Israel, and is sought for shipment to two ports - Chattogram and Mongla.