Indonesian state purchasing agency Bulog is believed to have purchased about 300,000 metric tons of rice an international tender late last week, European traders said on Monday.
Traders said the rice will be sourced from Vietnam, Thailand, Pakistan and Myanmar.
The lowest price was estimated at $585 a ton cost and freight (c&f) included for rice from Vietnam sold by trading house Vinafood. Traders said the purchase involved a total 109,000 tons of Vietnamese rice with other sales made at $588 to $590 a ton c&f.
Some 110,000 tons from Thailand was bought at the lowest price of $608 a ton c&f, with the lowest price said to have been sold by Thai Capital Crops.
Some 56,000 tons from Myanmar was bought all at $610 a ton c&f and 25,000 tons from Pakistan all at $617 a ton c&f, traders added.
Reports reflect assessments from traders and further estimates of prices and volumes are possible later.
Bulog sought arrival in Indonesia by May 31.
The tender continues a series of measures by the Indonesian government to increase rice imports to cool local prices.
Prices for rice, the staple food for most of Indonesia’s 270 million people, have risen about 20% since last year as the El Nino weather phenomenon cut rainfall across large parts of Asia in 2023, reducing output and sparking food inflation.
Indonesia has already secured around 1 million tons of rice imports for 2024.
The rice purchased should be packed in bags with shipment by break bulk ships only.
In its last reported international rice tender on March 27, Bulog is believed to have purchased about 300,000 tons also for arrival by May 31.
Source: Reuters (Reporting by Michael Hogan, Editing by Louise Heavens)
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