HAMBURG: The lowest price offer in the tender from Iraq’s state grains buyer to purchase at least 30,000 tonnes of rice was $427 a tonne c&f free out for rice to be sourced from Pakistan, traders said on Tuesday.

No decision about a purchase was believed to have been made in the tender, which closed on Tuesday with offers remaining valid up to Oct 22.

The offer was made for 40,000 tonnes from Pakistan, they said. No other offers from Pakistan were reported.

This was followed by an offer of 40,000 tonnes rice from Thailand at $432 a tonne c&f. Other offers for Thai rice were made at prices between $447 to $485 a tonne c&f free out.

The lowest offer for rice from the United States was around $653.5 a tonne for 30,000 tonnes. Another offer of US rice was made at $658 a tonne c&f.

Indian rice was offered at $543 a tonne c&f free out with only one offer made.

Rice optionally from Argentina or Uruguay was offered at $572 a tonne. The lowest offer from Argentina only was $579 a tonne c&f and lowest from Uruguay only was $584 a tonne c&f.

Volumes in Iraq’s tenders are nominal and the country can buy more than requested in the tender. In its last report tender on Aug 31, Iraq purchased a total of around 60,000 tonnes to be sourced from Pakistan and Uruguay.

Published in Dawn, October 18th, 2017