Asian rice exporters prepare for potential Bulog tender in May
Published on: May 8, 2024.
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Top Asian rice exporters are anticipating a tender from the Indonesian state purchasing agency, Bulog, in May that could have a short-term impact on prices. In 2024, Bulog has already announced four tenders, purchasing 1.4 million metric tonnes of rice. Vietnam, Thailand, Myanmar, and Pakistan have been the main suppliers to Bulog this year. The agency has set an import quota of 3.6 million metric tonnes for 2024, slightly lower than last year’s 3.8 million metric tonnes, due to reduced yields and output caused by the El Nino weather pattern. The upcoming tender from Bulog is expected to result in a surge in rice prices.
