Indian wheat expensive, says Dhaka
By IANSSunday, May 16, 2010
DHAKA - Bangladesh will not buy Indian wheat as it finds its price higher than the international market, a senior official has said.
The Bangladesh government is reluctant to import wheat from India, which has lifted a three year ban on exports, due to its higher price than Russia, Turkey and Ukraine, director general of food Ahmed Hossain Khan Saturday told the Bangladesh Sangbad Sangstha (BSS), the official news agency.
Bangladesh usually buys wheat through international tenders and the participants in the tender buy wheat from countries from where they get at a lower rate, Hossain said.
“India exports wheat under FOB (free on board) rate which is a bit riskier for us,” he said, adding: “We prefer CIF (cost insurance and freight) rate in wheat import which is risk free and also cheaper.”
“Under the FOB rate, the price of per tonne wheat would be over $300 but we import wheat from Ukraine, Russia and Turkey under CIF rate which is not more than $257,” he said.
