Govt to buy another 2.20 lakh tonnes of US wheat

The Food Ministry will procure another 2.20 lakh tonnes of wheat from the United States under a government-to-government arrangement to strengthen public food stocks and ensure a sufficient supply for social safety net programmes, according to a decision made today by the Advisers' Council on Government Purchase.

This is the third time the government will purchase wheat from the US. The Food Ministry earlier signed two contracts with a US agency to buy a total of 4.40 lakh tonnes of wheat, aiming to protect Bangladesh's exports to America and reduce the trade deficit, which is currently in Bangladesh's favour.

At today's meeting, chaired by Finance Adviser Salehuddin Ahmed, the Directorate General of Food was given the go-ahead to buy the grain from Agrocorp International PTE Ltd, which is authorised by US Wheat Associates.

The consignment will cost Tk 842 crore, with the price fixed at $312.25 per tonne.

Previously, the Food Ministry signed two contracts to purchase a total of 4.40 lakh tonnes of wheat from the US.

It first signed a contract to import 2.20 lakh tonnes of wheat at $302.75 per tonne, including cost, insurance, freight, and port-related charges—referred to as the CIF Liner Out price.

Another contract was signed to import 2.20 lakh tonnes of US wheat at $308 per tonne, also on a CIF Liner Out basis, the ministry said earlier.

With the latest decision, the government will now purchase a total of 6.60 lakh tonnes of wheat from the US.

So far, nearly 2 lakh tonnes of the grain have been received from the US.