Indonesia Procures 534,000 Metric Tons of Rice in Traders’ Tender
Published on: December 13, 2023.
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Indonesian State Purchasing Agency BULOG Begins Rice Procurement in International Tender
Indonesian state purchasing agency BULOG has recently initiated the purchase of rice through an international tender. The tender is open for up to 534,000 metric tons of rice from various origins. The tender closed on Monday, as reported by European traders.
The specific volume of rice purchased so far remains uncertain. However, traders have confirmed the acquisition of approximately 110,000 tons of rice from Pakistan and around 80,000 tons from Myanmar. The cost of the rice, including freight, is estimated to be around $635 per ton, with the term “free out” included.
Market rumors suggest that additional purchases may have been made, including approximately 200,000 tons of rice from Thailand and around 50,000 tons from Vietnam. These purchases are believed to have been made at approximately $665 per ton, including freight, and with the term “free out” included.
The procurement is specifically for long grain white rice, and the expected arrival date is set for January 30, 2024. It’s important to note that the information provided is based on assessments from traders, and there is a possibility for further estimates of prices and volumes in the future.
Source: Reuters
