Indonesia Purchases 300,000 Metric Tons of Rice in Tender
Published on: March 3, 2024.
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Indonesian State Purchasing Agency Bulog Buys 300,000 Metric Tons of Rice
HAMBURG: In an international tender that closed on Wednesday, Indonesian state purchasing agency, Bulog, is believed to have purchased approximately 300,000 metric tons of rice, according to European traders on Friday.
While the exact volume bought remains unclear, most trader estimates suggest that it is around the 300,000 ton mark, which was the same amount sought in the tender. However, some estimates put the volume at 307,000 tons.
Traders have revealed that most of the rice will be sourced from Thailand, with a smaller portion coming from Pakistan. The lowest price for the rice from Thailand is estimated to be $624 per ton, including the cost and freight (c&f).
The purpose of this purchase is to ensure quick arrival of the rice by April 30th, as Indonesia strives to increase its supplies and stabilize prices.
Due to the El Nino weather phenomenon causing reduced rainfall across Asia, rice prices, which are the main food staple for Indonesia’s population of 270 million, have increased by more than 16% since last year. This decrease in crop size necessitated the urgent need to boost rice supplies.
Traders have reported that the rice was purchased in ten consignment lots, each containing approximately 30,000 tons, although not all lots were exactly the same size.
For more information, please visit the source article [**here**](https://www.brecorder.com).
