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Just one buying and selling home is believed to be collaborating within the tender on Tuesday from Bangladesh’s state grains purchaser to buy and import 50,000 tonnes of wheat, European merchants mentioned.
Buying and selling home Agrocorp was reported to be the one participant. No buy has been reported, merchants mentioned.
Agrocorp was believed to have provided an estimated $448.38 per tonne c&f liner out with provides sourced optionally from Bulgaria, Romania, the US, Canada, Australia or India. Liner out phrases embrace some ship unloading prices for the vendor.
Merchants mentioned causes for the low participation within the tender included usually tight provide on the planet market, complicated tender phrases in Bangladesh and falling costs and value uncertainly.
Chicago benchmark markets had been closed for a vacation on Monday. U.S. wheat futures on Friday fell again from ranges hit after Russia’s invasion of Ukraine in February despatched costs hovering. GRA/
Bangladesh was in latest months a significant importer of wheat from India, which has not too long ago restricted grain exports, significantly tightening provide in Asian markets.
Bangladesh can be among the many importers hit by disruption to Black Sea area wheat exports.
Supply: Reuters (Reporting by Michael Hogan in Hamburg, further reporting by Ruma Paul in Dhaka, enhancing by Jason Neely)
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