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Rice from Vietnam/Myanmar used most affordable in Indonesia's tender, traders state

The lowest price used in the global tender from Indonesian state acquiring agency Bulog buy about 450,000 metric tons of rice was estimated at $ 539.30 a ton cost and freight (c&& f) for rice anticipated to be sourced from either Vietnam or Myanmar, European traders stated on Monday.

The lowest deal was stated to have been made for up to 30,200 lots.

Traders had actually previously evaluated the most affordable offer at $547.00. a ton c&& f also for rice from Vietnam or Myanmar also for 30,200.

tons. No purchase has actually yet been reported and cost negotiations are. expected to continue in coming days, traders said. A choice is. expected later this week.

Reports show assessments from traders and even more. price quotes of prices and volumes are still possible later on.

Rice from either Vietnam or Myanmar was provided at the. lowest other prices for a number of consignments including $549.00,. $ 554.40 and $550.50 a heap c&& f, traders stated.

Rice arrival in Indonesia is sought for October/November in. up to 14 consignments.

Rice is sought sourced from Vietnam, Thailand, Myanmar,. Cambodia or Pakistan.

The tender continues heavy rice purchasing by Indonesia in. worldwide markets to cool domestic costs after a frustrating. domestic harvest.

Bulog had actually imported 2.85 million tons of rice up to September. 22 out of 3.1 million heaps contracted, a Bulog official stated. during a government meeting on inflation on Monday.

Indonesia has given Bulog a rice import quota of 3.6 million. lots for 2024 after the El Nino weather phenomenon last year. triggered disruption to brand-new crops and a drop in rice production, a. staple food for most of Indonesia's 275 million individuals.

(source: Reuters)