GENEVA: Switzerland’s ADM International offered to sell 50,000 tonnes of wheat to Bangladesh for $215.87 a tonne, the lowest offer in a tender that opened on Sunday, an official of the Bangladesh state grains buyer said.
Eight trading companies competed for the tender, which was the second issued by the Directorate General of Food since the current financial year started in July.
Rice is the main staple for Bangladesh’s 160 million people, but wheat consumption is rising because of lifestyle changes.
Bangladesh’s state grains buyer plans to import 950,000 tonnes of wheat in the current financial year, up from 300,000 tonnes the previous year.
Sunday’s offer is lower than the lowest offer of $233.96 a tonne made by the Phoenix Commodities in a tender that opened last month.
However, wheat futures made strong gains on Friday, recovering from contract lows earlier in the week.
Both tenders this financial year have called for wheat with at least 12.5 percent protein and a minimum test weight of 76 kilos per hectolitre after a crackdown on wheat quality.
The state buyer has rejected shipments of French wheat in recent months because grain failed to match tender specifications.
