Thursday, May 13

India, Bangladesh finalising initial bilateral rice offer in 3 years: Report

India, Bangladesh finalising initial bilateral rice offer in 3 years: Report


DHAKA/MUMBAI: Bangladesh is finalising a purchase of 150,000 tonnes of rice from India’s NAFED, the New Delhi-based point out agency advised Reuters, in what would be the to start with this sort of bilateral offer in a few years after floods in Bangladesh sent neighborhood charges to a record large.
India, the world’s greatest rice exporter, is presenting a steep discount to materials from rivals Thailand and Vietnam to minimize its surplus right after a bumper harvest.
“We are negotiating with Bangladesh,” claimed a spokesman for NAFED (the National Agricultural Cooperative Promoting Federation of India Ltd). “NAFED is in a position to offer up to 500,000 tonnes rice to Bangladesh.”
A senior official with Bangladesh’s meals ministry stated they could get 100,000 tonnes of parboiled rice and 50,000 tonnes of white rice beneath a federal government-to-governing administration deal.
India could offer parboiled rice at all around $407 and white rice at all over $417 per tonne on a cost, insurance coverage and freight (CIF) liner out foundation, an Indian authorities source explained. The prices are about a third less expensive than all those from Thailand and Vietnam.
The overall cargo is likely to be produced in the initial quarter of upcoming yr from the Haldia port in West Bengal, which borders Bangladesh, the Indian authorities formal additional.
The two the Indian and Bangladeshi authorities officials declined to be named as facts are even now staying worked out.
Associates for the trade and food items ministries of India and Bangladesh did not immediately reply to requests for remark.
Bangladesh, the world’s 3rd-biggest rice producer with an output of practically 35 million tonnes a year, relies on imports from time to time to cope with shortages brought about by all-natural disasters this kind of as floods or drought.
Its state grains agency issued its very first rice order tender in three years in November to strengthen regional materials. The state of much more than 160 million people today could import as a great deal as 500,000 tonnes of rice in the year to June.
“Bilateral deals will accelerate India’s rice exports,” mentioned BV Krishna Rao, president of the Indian Rice Exporters’ Affiliation. “The govt must test to seal more this sort of promotions as we have ample surplus for exports.”



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