11:44 am - Tuesday October 17, 2017

Traders buy 150,000t wheat from Indian

Three traders in Bangladesh have bought 150,000 tonnes of wheat from neighbouring India at prices ranging from $302 to $305 a tonne, including cost of delivery to Chittagong port, two sources said on Wednesday.

wheatBangladesh has turned to India for wheat supplies since New Delhi lifted a ban on exports in 2011.

Separately, Bangladesh’s state grains buyer has received the lowest offer from Glencore of $303 a tonne, including freight, insurance and other expenses, in a tender that opened on Tuesday.

Bangladeshi traders import 2.5 million to 3 million tonnes a year to help meet annual demand of more than 4 million tonnes. The country’s domestic output is nearly 1 million tonnes.

-Reuters


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