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Vietnamese Rice Secures Lowest Price in Indonesia's Tender for 300,000 Tons


Published Date: March 30, 2024
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According to European merchants on Tuesday, the lowest price that the Indonesian state procurement agency Bulog proposed in the international contract to purchase roughly 300,000 metric tons of rice was projected to be $609 per ton cost and freight (c&f) for rice produced from Vietnam. In the tender, the first price offers were sent in on Monday. Later this week, a decision is anticipated. Dealers stated that pricing talks are still ongoing and that no purchase has been reported as of yet.

By May 31st, rice must arrive in Indonesia according to the tender. Reports are based on assessments made by traders, and additional price and volume projections may be made in the future. The Indonesian government has been increasing rice imports to lower local prices, and this procurement is the latest in a line of actions. The El Nino climatic event in 2023 reduced rainfall across wide sections of Asia, cutting output and creating pressure for food inflation. As a result, rates for rice, a fundamental meal for the majority of Indonesia's 270 million inhabitants, have skyrocketed by over 16 percent since last year.

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Bulog Issues New Rice Tender for 250,000 - 310,000 Tons

The offer is looking for between 25,000 and 31,000 tons of white rice each shipment from Thailand, Vietnam, Myanmar, Pakistan, and Cambodia. The traders claimed that Olam, a trading business, had made the most affordable price for Vietnamese rice. Ponglarp Company made the cheapest offering for rice from Thailand, estimated at $610 per ton c&f. King Green Natural Foods made the lowest proposal for rice from Pakistan or Myanmar, valued at $619.50 per ton c&f, for multiple consignments.

According to dealers, offers in the tender were led in bulk terms by rice from Vietnam and Thailand. Although transportation by a break bulk ship is preferable over shipping containers, the rice should still be wrapped in bags. About three million metric tons of rice are thought to have been purchased by Bulog in its most recent international tender, which was announced on March 1st.

If you are a rice importer wishing to Import Rice in Bulk or a rice exporter willing to export bulk rice, then Tradologie.com is the right platform for you. Tradologie.com facilitates bulk agro-commodity sales and procurement across the globe. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities in bulk at negotiable rates. The transaction oriented platform has 700,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 100 countries.

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