Bangladesh is finalising a purchase of 150,000 tonnes of rice from India’s NAFED, the New Delhi-based state agency told Reuters, in what would be the first such bilateral deal in three years after floods in Bangladesh sent local prices to a record high.
India, the world’s biggest rice exporter, is offering a steep discount to supplies from rivals Thailand and Vietnam to cut its surplus after a bumper harvest.
“We are negotiating with Bangladesh,” said a spokesman for NAFED (the National Agricultural Cooperative Marketing Federation of India Ltd). “NAFED is in a position to supply up to 500,000 tonnes rice to Bangladesh.“
A senior official with Bangladesh’s food ministry said they could buy 100,000 tonnes of parboiled rice and 50,000 tonnes of white rice under a government-to-government deal.
India could sell parboiled rice at around $407 and white rice at around $417 per tonne on a cost, insurance and freight (CIF) liner out basis, an Indian government source said. The rates are about a third cheaper than those from Thailand and Vietnam.
The entire shipment is likely to be made in the first quarter