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Wednesday, June 19, 2024

Indonesia invites bids for 300,000 tons of rice

By Trung Chanh

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HCMC – The National Logistics Agency of Indonesia (Bulog) is seeking to bolster the indonesian food reserves by inviting bids for an additional 300,000 tons of rice.

The bidding comes on the heels of a successful bid for 500,000 tons in January. The rice sought by Indonesia this time is of the 5% broken rice variety, with a stipulation that it must belong to the 2023-2024 crop and have been milled within the last six months.

Last month, Vietnamese firms secured contracts for over 300,000 tons out of the 500,000 tons of 5% broken rice sought by Indonesia.

Le Phat Long, director of Phat Tai Food Company and one of the participating bidders in January, told The Saigon Times that Indonesia entered negotiations with companies offering the lowest prices in the second round.

While the lowest offer did not guarantee success, it ultimately depended on negotiations and willingness to adjust prices.

Vietnamese businesses secured the winning bids with an average price of US$655 per ton, with the lowest successful bid staying at US$645 per ton.

Delivery to Indonesia is required by March 31.

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