Rice export to BD: TCP receives 11 bids

KARACHI: The Trading Corporation of Pakistan (TCP) has received 11 bids for the supply of 50,000 metric tons of long grain white rice to Bangladesh.

The procurement is part of an ongoing effort to meet Bangladesh’s rice import requirements, with TCP evaluating the offers. The successful bidder will be responsible for ensuring timely delivery and meeting the contractual specifications set by TCP.

The state-run grain trader issued an international tender on December 31, 2024 and invited separate sealed bids from Companies dealing in export of Rice, for purchase of 50,000 metric ton Long Grain White Rice (IRRI-6) and 50,000 metric ton Non-Basmati Parboiled Rice both on Free on Board (FOB) Karachi/Gwadar Ports and CIF liner out Chattogram Port Bangladesh Basis through Karachi or Gwadar Port for export to Bangladesh in the shape of break bulk cargo packed in 50 kg polypropylene (PP) woven bags as per specification provided in the bidding document.

The tender was opened on Monday January 6, 2025 in presence of the bidders or their authorized representatives. In response to TCP’s tender, some 11 exporters/traders participated in the tender and submitted bids ranging $498.40 per metric ton to $523.50 per metric tons for export of 50,000 metric tons Long Grain White Rice (IRRI-6) to Bangladesh. However, no bid was received for the 50,000 metric tons Non-Basmati Parboiled Rice.

The bids were required to submit bids a minimum quantity of 25,000 metric ton or multiples thereof with a maximum quantity of 50,000 metric ton for Long Grain White Rice.

As per received bids for the Long Grain White Rice, M/s Kap Impex submitted the lowest bid, offering $468.50 per metric ton FOB and $498.40 per metric ton CIF for the supply of rice to Bangladesh. M/s Jetlee was the second-lowest bidder, with a FOB bid of $459.81 per metric ton and a CIF bid of $499.90 per metric ton.

G M Food ranked third, with a FOB bid of $463 per metric ton and a CIF bid of $502.40 per metric ton. Marvel Agro’s bid was $470 per metric ton FOB and $510 per metric ton CIF. Meskay Teka offered $467.90 per metric ton FOB and $513.90 per metric ton CIF and M/s Jesani’s CIF bid was $515 per metric ton.

Meskay Shahid submitted a FOB bid of $480 per metric ton and a CIF bid of $517.50 per metric ton, while VMS Trading Co. proposed a CIF bid of $518.92 per metric ton. Garibsons offered $482.50 per metric ton FOB and $521.75 per metric ton CIF and M/s Jhulay Lal’s bid was $478 per metric ton FOB and $523 per metric ton CIF. Conwill submitted the highest bid, offering $482 per metric ton FOB and $523.50 per metric ton CIF.

As per tender’s terms and conditions, validity of received bids is for fifteen 15 working days after opening of bids and the validity of bids can be extendable as per PP Rules, 2004. Sources said that currently TCP is evaluating the received bids and will take a decision in the next few days.

The successful bidders, within four working days of issuance of Letter of Award, for due and satisfactory performance of the contract shall furnish a Performance Bond equivalent to Five Percent (5%) of the Value of Contracted Goods in the shape of a pay order or demand draft or bank guarantee. The performance bond shall be forfeited without notice in case the successful bidder commits any breach of contract or fails to fulfill any of the terms and conditions of the contract.