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URL: https://www.nasdaq.com/articles/indonesia-seeks-300000-metric-tons-rice-for-may-arrival-traders-say
Submission: On March 28 via api from LU — Scanned from DE

Form analysis 8 forms found in the DOM

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Commodities



INDONESIA SEEKS 300,000 METRIC TONS RICE FOR MAY ARRIVAL, TRADERS SAY

Credit: REUTERS/Willy Kurniawan

March 20, 2024 — 07:02 am EDT

Written by Michael Hogan for Reuters ->


 * 
 * 
 * 
 * 
 * 

HAMBURG, March 20 (Reuters) - The international tender from Indonesian state
purchasing agency Bulog to buy 300,000 metric tons of rice seeks arrival of the
grain in Indonesia by May 31, European traders said on Wednesday.

Bulog had announced the tender on Monday but given few details, saying more
information would be given after traders had registered for tender participation
on Wednesday.



Traders said price offers must be submitted by Monday, March 25. Negotiations
with Bulog will then take place in the following days with a decision expected
by March 27.

The tender continues efforts by Indonesia’s government to boost rice imports to
cool prices after a poor local crop.

Prices for rice, the staple for most of Indonesia's 270 million people, have
soared more than 16% since last year as the El Nino weather phenomenon cut
rainfall across large parts of Asia in 2023, reducing output and sparking food
inflation pressure.

The white rice of 5% broken grade is sought from Thailand, Vietnam, Myanmar,
Pakistan and Cambodia, they said.

The rice should come from the 2023/2024 crop year and should have been milled no
longer than six months ago. It should be packed in 50 kg bags.



Shipment is preferred in breakbulk vessels but delivery in shipping containers
is permitted in some ports.

In its last reported tender on March 1, Bulog was believed to have purchased
about 300,000 tons of rice expected to be mainly sourced from Thailand plus some
from Pakistan.



(Reporting by Michael Hogan, Editing by Louise Heavens)

((michael.j.hogan@thomsonreuters.com; +49 172 671 36 54; Reuters Messaging:
michael.hogan.thomsonreuters.com@reuters.net))





The views and opinions expressed herein are the views and opinions of the author
and do not necessarily reflect those of Nasdaq, Inc.


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